Join our crew and become one of the 106,880 members that receive our newsletter.

Saipem Awarded Largest Offshore Contract in Company History in Qatar

Wirestock Creators / Shutterstock.com

Saipem Awarded Largest Offshore Contract in Company History in Qatar

Mike Schuler
Total Views: 1152
October 20, 2022

Italian contractor Saipem has been awarded its “largest single offshore contract by total value” for two offshore gas complexes in Qatar.

The $4.5 billion contract was awarded by Qatargas for the North Field Production Sustainability Offshore Compression Complexes Project located off the north-east coast of Qatar.

The scope of work encompasses the engineering, procurement, fabrication and installation of the two complexes, including two of the largest fixed steel jacket compression platforms ever built, as well as flare platforms, interconnecting bridges, living quarters and interface modules.

Saipem says 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.”

Qatar’s North Field is the largest non-associated natural gas field in the? world with recoverable reserves of more than 900 trillion standard cubic feet (tscf), or approximately 10% of the world’s known reserves.?

The award represents the largest single offshore contract by total value in Saipem’s history and follows an award in early 2021 related to offshore facilities for extraction and transportation of natural gas for the same field.

“With this contract, Saipem accelerates 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,” the company said.

Tags:

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up
Back to Main
polygon icon polygon icon

Why Join the gCaptain Club?

Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.

Sign Up
close

JOIN OUR CREW

Maritime and offshore news trusted by our 106,880 members delivered daily straight to your inbox.

gCaptain’s full coverage of the maritime shipping industry, including containerships, tankers, dry bulk, LNG, breakbulk and more.