Encompassing two offshore gas compression complexes in Qatar, Italian oilfield services company Saipem said on Wednesday it has been awarded the largest single offshore contract by total value in its history. The agreement was made with Qatargas for the North Field Production Sustainability Offshore Compression Complexes Project – EPC 2 located offshore the north-east coast of Qatar. The contract value amounts to approximately 4.5 billion USD.
The scope of work encompasses the engineering, procurement, fabrication and installation of two offshore natural gas compression complexes aimed at sustaining the production of the North Field, including two of the largest fixed steel jacket compression platforms ever built, flare platforms, interconnecting bridges, living quarters and interface modules.
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To execute this project, Saipem said it will leverage on its own assets, know-how and competences on offshore engineering, installation and fabrication, as well as its capability to maximize local content.
This deal follows the award in early 2021 related to offshore facilities for extraction and transportation of natural gas for the same field and demonstrates the continuity and the quality of Saipem’s performance in Qatar.
With this contract, Saipem said it will accelerate its strategic repositioning in the offshore segments (E&C and drilling) which represent the large majority of the announced order intake year-to-date, further supporting the delivery of its Strategic Plan.
Saipem is undertaking engineering and procurement activities for ExxonMobil’s Yellowtail Development Project offshore Guyana. The contract, awarded by ExxonMobil Guyana, relates to the Engineering, Procurement, Construction, and Installation (EPCI) of the Subsea Umbilicals, Risers & Flowlines (SURF).
The company has been awarded multiple contracts by ExxonMobil for EPCI works for several of the offshore developments at the Stabroek Block.
