Saipem awarded $1.7bn offshore contract by Qatargas

Post Date: 23/02/2021

Italian offshore engineering specialist Saipem has secured a letter of award from Qatargas for the development of the North Field Production Sustainability Offshore Project, located offshore Qatar peninsula. 

The total value of the contract is about $1.7bn, and the scope of work includes the engineering, procurement, construction and installation of various offshore facilities for the extraction and transportation of natural gas, including platforms, supporting and connecting structures, subsea cables and anticorrosion internally cladded pipelines. Furthermore, the project encompasses the decommissioning of a pipeline and other significant modifications to existing offshore facilities.

The pipe-laying and lifting operations will be executed by pipelay vessel De He.

Additionally, Saipem has received from Qatargas a letter of intent for the contractual package regarding offshore export pipelines and related onshore works of the North Field Production Sustainability Pipelines Project. 

“Saipem is well positioned and actively executing various contracts in Qatar, a key market for us with several offshore investments expected to progress in the near future. This acquisition by Qatargas consolidates our position in the gas sector, confirms our strategic role in the energy transition and represents a token of confidence in Saipem’s experience and proven ability to successfully execute and deliver challenging projects,” said Stefano Porcari, Saipem E&C Offshore Division COO.

Courtesy: Jason Jiang