Wedoany.com Report-Sept. 13, Saipem has announced the award of a new offshore contract for the Sakarya gas field development in Türkiye, valued at approximately $1.5 billion. The contract, granted by Turkish Petroleum OTC (TP-OTC), covers the third phase of development at Sakarya, the country’s largest offshore natural gas field.

According to Saipem, the third phase involves a new dedicated floating production unit (FPU) supplied by 27 wells located in the Sakarya and Amasra fields. These wells will be connected via a new trunkline to the onshore facility in Filyos on the Turkish Black Sea coast. Saipem’s scope includes engineering, procurement, construction, and installation (EPCI) of eight rigid flowlines and a 24-inch diameter Gas Export Pipeline (GEP) approximately 183 km long, linking the offshore field at depths of up to 2,200 meters to Filyos.

The overall contract is expected to last around three years, with the offshore campaign scheduled for 2027 using Saipem’s Castorone pipelay vessel. The company noted that it has successfully completed the first phase of the Sakarya project, awarded in 2021, and is finalizing the second phase, awarded in 2023. Saipem emphasized that this third-phase contract further strengthens its presence in Türkiye and supports a strategic project contributing to the country’s energy independence.

Alparslan Bayraktar, Minister of Energy and Natural Resources of Türkiye, confirmed the agreement on his X page, stating: “Within the scope of Gastech 2025, we discussed the technical planning for the development of Phase 3 of the Sakarya Gas Field with Saipem CEO Mr. Alessandro Puliti.” He added: “Following our meeting, an agreement was signed between TP-OTC and Saipem for the construction of a 183 kilometer deep-sea main production pipeline to bring the natural gas to be produced under Phase 3 onshore.”

In its first half 2025 results, Saipem reported continued growth. Revenue reached EUR 7.2 billion ($8.4 billion), with EBITDA at EUR 764 million ($893.3 million), a 35 percent increase compared to the same period last year. Net profit stood at EUR 140 million ($163.7 million), up 19 percent year-on-year, while free cash flow grew to EUR 766 million ($895.6 million) from EUR 271 million ($316.9 million) in the first half of 2024. Saipem also recorded an order intake of EUR 4.3 billion ($5.0 billion), resulting in a consolidated backlog of EUR 31 billion ($36.2 billion).

Saipem describes itself as a global leader in engineering and construction for energy and infrastructure projects, both offshore and onshore. Listed on the Milan Stock Exchange, the company operates in over 50 countries and employs approximately 30,000 people representing more than 130 nationalities. The Sakarya Phase 3 contract demonstrates Saipem’s continued commitment to large-scale, high-complexity energy projects while supporting Türkiye’s strategic energy objectives.