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Thursday, May 13, 2021

Saipem enters 12-year agreement with Saudi Aramco

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Saipem has signed a Long-Term Agreement (LTA) with Saudi Aramco for onshore engineering and construction activities. The deal, which is for a duration of twelve years, entails efficiency activities on existing facilities and is part of Saudi Aramco’s broader long-term plan to update its facilities in the country’s Eastern Province.

The programme’s goal, among others, is aimed at optimising consumption and reducing emissions of CO2 and H2S.

Saipem said the framework agreement includes possible interventions on upstream and downstream facilities situated, amongst others, in the following areas: Wasit, Khursaniyah, Abu-Ali, Jubail, Berri, Ras Tanura, Qatif, Abqaiq, Shedgum, Uthmaniyah, Hawiyah, Haradh, Khurais, Ghawar.

Saipem and Saudi Aramco have been collaborating for several decades on both onshore and offshore facilities and infrastructure and are already engaged under an equivalent LTA for offshore activities in Saudi Arabia which was extended in 2015. Saipem is also currently working with Saudi Aramco on drilling activities, with its onshore and offshore rigs.

“This new agreement with Saudi Aramco, among our major clients and one of the most active players in the energy sector, strengthens a longstanding relationship and confirms Saipem’s strategic positioning in the Middle East under a medium-long term perspective,” said Maurizio Coratella, COO of Saipem’s E&C Onshore Division.

Saipem building construction yard with ‘largest heavy lift crane’ in Guyana, local team executing work

Coratella said the deal underscores the confidence and appreciation for the high quality of Saipem’s services and expertise. “In particular, the agreement consolidates Saipem’s leadership as a company committed to providing bespoke cutting-edge technological solutions to a strategic client.”

In Guyana, Saipem has been awarded contracts by ExxonMobil for the Engineering, Procuring, Construction and Installation of Subsea Umbilicals Risers Flowlines for the company’s offshore developments at the Stabroek Block.

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