Saipem
The Italian construction firm announced that it won offshore EPCI projects worth $680mn in Q4 of last year.
Italy’s Saipem has secured the fourth spot in the EPC contractors rankings. In Q4 2015, the company announced that it had won offshore EPCI projects worth $680mn from Saudi Aramco and Italy’s Eni.
The Saudi Aramco contract involves the engineering, procurement, transportation and installation of offshore structures. The EPCI contract from Eni, meanwhile, was for the Block 15/06 – East Hub Development Project, which is scheduled to be completed by the end of 2016.
This year, Saipem also entered into a memorandum of understanding (MoU) with Iranian energy firm Ravazi Oil and Gas Development, to develop the Toos gas field, in northeastern Iran, drilling up to seven wells, and designing and building all upstream gas production facilities for the project.
The Italian contracting company is also making strides in the regional downstream sector. In September 2015, Saipem was awarded contracts worth $1.3bn by the Kuwait National Petroleum Corporation for Package 4 and Package 5 of the Al Zour New Refinery Project (NRP). Package 4, for which Saipem has received award notification in joint venture with Essar Projects Limited, consists of engineering, procurement, construction, pre-commissioning, and assistance during commissioning/start-up/performance testing for the tankages, related road works, buildings, pipe racks, pipelines, water systems and control systems, and will be completed by the beginning of 2019. Package 5, for which Saipem has received award notification in joint venture with Hyundai Engineering & Construction and SK Engineering & Construction, consists of offshore maritime export facilities for the Al-Zour NRP.
