Saipem Secures $1.8 Billion Offshore EPCI Contract in the Middle East, Covering Offshore and Subsea Facility Construction

en.Wedoany.com Reported - Italian energy engineering contractor Saipem disclosed on August 12 that it has been awarded an offshore engineering, procurement, construction, and installation (EPCI) contract valued at approximately $1.8 billion in the Middle East.

Under the contract, Saipem will undertake the engineering design, procurement of equipment and materials, onshore fabrication, and offshore installation for offshore and subsea facilities. The EPCI model integrates design, procurement, construction, and installation into a unified execution framework, requiring the contractor to coordinate equipment and material supply, fabrication yards, construction vessels, and offshore installation resources.

This contract continues Saipem's order pipeline in the Middle East offshore engineering market. The company has previously undertaken projects in the region including offshore platform jackets, platform topsides, subsea pipelines, composite subsea cables, umbilical cables, fiber optic cables, and modifications to existing offshore facilities, building engineering capabilities covering offshore structures, subsea transmission systems, and brownfield modifications.

In terms of project execution resources, Saipem currently operates 5 fabrication yards and 17 owned offshore construction vessels, capable of undertaking offshore structure fabrication, subsea pipeline laying, heavy lifting, and subsea facility installation operations. The company also operates 12 drilling rigs, 9 of which are owned assets.

This new $1.8 billion contract will further bolster Saipem's offshore engineering order backlog. As the project progresses into the engineering design and procurement phase, the associated fabrication and offshore installation tasks will proceed in accordance with the contract schedule.