Saipem Awarded New Contracts for an Overall Amount of approx. 1B USD

Saipem has been awarded two new contracts, one for EPCI offshore activities in the Middle East and the other for the development of underwater drones in Brazil. The overall amount of these new acquisitions is approximately 1 billion USD.

Under the existing Long-Term Agreement (LTA) with Saudi Aramco, Saipem has been selected to be awarded a new offshore project. The scope of work involves the engineering, procurement, construction, and installation of five platforms and associated subsea pipelines, flowlines, and cables in the Marjan field, offshore Saudi Arabia, featuring an entirely in-Kingdom fabrication scheme. The effectiveness of the contract is subject to the fulfilment of the customary conditions precedent.

With this important award, Saipem further strengthens its long-standing relationship with Saudi Aramco and its strategic positioning in the Middle East.

Furthermore, Saipem has been awarded a contract by Petrobras for the development and testing of an autonomous subsea inspection robotic solution, which will be based on Saipem’s fleet of underwater drones, starting from the Flatfish AUV, as well as the qualification of related autonomous drone-based services, enabling future inspection contract options offshore Brazil.

This contract marks a fundamental milestone for Saipem's innovative underwater robotics programme and for the global scale utilisation of subsea drones in offshore projects throughout the entire value chain, and it allows to extend to the new features to the Technology Readiness Level 8 (TRL8) achieved on Saipem’s fleet of subsea drones. The potential of these subsea technologies within the offshore domain is vast, both for oil and gas developments as well as for the renewables market segment.