Saipem Awarded $4 Billion Offshore EPC Contract By QatarEnergy LNG

Saipem has secured an offshore EPC contract from QatarEnergy LNG for the Combined COMP3A & COMP3B of the North Field Production Sustainability Offshore Compression Program. This initiative aims to maintain production levels at the North Field offshore natural gas reservoir, situated off Qatar's north-east coast. The contract is valued at around $4 billion.

This significant contract follows the EPC package for the North Field Production Sustainability Offshore Compression Complexes Project - [COMP 2], awarded to Saipem in October 2022 and currently underway. The new project further strengthens Saipem's presence and track record in Qatar.

Saipem's responsibilities include engineering, procurement, fabrication, and installation of six platforms. Additionally, they will lay approximately 100 km of corrosion-resistant alloy rigid subsea pipelines with diameters of 28'' and 24''. The project also involves installing 100 km of subsea composite cables, 150 km of fibre optic cables, and various other subsea facilities.

Saipem is a global leader in engineering and constructing major projects for both the energy and infrastructure sectors, operating offshore and onshore. The company is structured into business lines such as Asset Based Services, Drilling, Energy Carriers, Offshore Wind, Sustainable Infrastructures, Robotics & Industrialized Solutions.

The company boasts seven fabrication yards and an offshore fleet comprising 21 construction vessels (17 owned by Saipem and four managed by third parties). It also operates 15 drilling rigs, nine of which are owned by Saipem. Known for its focus on technological innovation, Saipem's mission is "Engineering for a sustainable future".

Saipem is dedicated to aiding its clients in transitioning towards Net Zero through increasingly digital means, technologies, and processes aimed at environmental sustainability. Listed on the Milan Stock Exchange, Saipem operates in over 50 countries worldwide and employs about 30,000 people from more than 120 nationalities.

This latest contract highlights Saipem's ongoing commitment to supporting QatarEnergy LNG in sustaining production at one of the world's largest natural gas fields. By leveraging its extensive experience and advanced technology solutions, Saipem continues to play a crucial role in global energy projects.