SUBSCRIBE
PROFILE

Saipem signs two contracts with Saudi Aramco worth USD 1 billion

Saipem wins two offshore oil engineering, procurement, construction and installation (EPCI) contracts with Saudi Aramco, worth a total of around 1 billion USD, for the Marjan, Zuluf and Safaniyah fields in Saudi Arabia.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90$/month

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99$/year

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Sign up for free to unlock this article

Saipem signs two major contracts with Saudi Aramco as part of their Long Term Agreement for offshore oil projects in Saudi Arabia.
The cumulative value of these contracts is around 1 billion USD, covering engineering, procurement, construction and installation (EPCI) works for the development of the Marjan, Zuluf and Safaniyah offshore oil fields.
These new projects are part of Saudi Aramco’s strategy to strengthen its offshore hydrocarbon production capabilities.

Development of subsea facilities at Marjan

The first contract concerns the Marjan oil field.
Saipem is responsible for the installation of three Production Deck Modules (PDMs), 33 kilometers of 12″ and 16″ subsea rigid pipelines, and 34 kilometers of subsea power cables.
The project aims to modernize existing infrastructure and optimize Saudi Aramco‘s production operations.
By deploying construction vessels already operating in the region, Saipem is reducing mobilization costs and accelerating lead times.
The Marjan field in the Persian Gulf remains a key site for Saudi Aramco’s offshore expansion.
Investment in this subsea infrastructure is essential to improve operational efficiency and meet global oil demand.

Capacity enhancement at the Zuluf and Safaniyah fields

The second contract covers the Zuluf and Safaniyah oil fields.
It calls for the installation of three jackets, five production bridge modules, 22 kilometers of 16-inch rigid pipelines, 5 kilometers of flexible pipelines, as well as 35 kilometers of subsea power cables.
The diversity of the infrastructure to be installed reflects the complexity of Saudi Aramco’s technical requirements for these two fields, requiring tailored solutions to maximize resource extraction.
The Zuluf and Safaniyah fields are among the largest and oldest offshore fields operated by Saudi Aramco.
This project will enhance their production capacity, while integrating them into the company’s global development strategy.

Local manufacturing and optimization of resources

The components required for these projects are manufactured by Saipem Taqa Al-Rushaid Fabricators Co.
Ltd, based in Saudi Arabia.
This approach meets Saudi Aramco’s requirements to increase local content, in line with the Kingdom’s Vision 2030.
By promoting local production, Saudi Aramco seeks to develop industrial skills and strengthen the autonomy of its oil industry.
For Saipem, this localization of manufacturing minimizes supply chain risks and improves responsiveness to customer requirements, reinforcing the long-term strategic partnership with Saudi Aramco.

Background and outlook for the offshore oil sector

These contracts reflect the continuing demand for the development of robust offshore oil infrastructures, and Saudi Aramco’s determination to maintain its dominant position in the hydrocarbon sector.
The signing of these agreements comes at a time when investment in offshore exploration and production remains a priority, underpinned by stable oil prices and prospects for growth in global demand.
Efficiency in the delivery of complex projects remains a crucial competitive advantage.
Investment in modern, reliable infrastructure enables Saudi Aramco to meet industry challenges and strengthen its competitiveness in the global marketplace.

  • Popular on energynews.pro
Nuclear energy retained in the European Union green taxonomy
Orazul Energy launches cash tender offer for its 2027 notes
Westinghouse and EDF reactors deemed viable for Slovenia’s JEK2 nuclear project
IAEA urges Iran to resume nuclear inspections as time runs out
Two sanctioned Russian LNG carriers deliver to China despite restrictions
Drone strikes major Bachneft refinery in Ufa, fire breaks out
A drone attack on a Bachneft oil facility in Ufa sparked a fire with no casualties, temporarily disrupting activity at one of Russia’s largest refineries.
Transatlantic rift over Russian oil reduces Indian volumes in October
The divide between the United States and the European Union over regulations on Russian oil exports to India is causing a drop in scheduled deliveries, as negotiation margins tighten between buyers and sellers.
US crude oil stocks rise by 3.9 million barrels
Against market expectations, US commercial crude reserves surged due to a sharp drop in exports, only slightly affecting international prices.
Russia increases oil exports from western ports by 11% in September
Russia plans to ship 2.1 million barrels per day from its western ports in September, revising exports upward amid lower domestic demand following drone attacks on key refineries.
QatarEnergy secures offshore exploration licence in Congo
QatarEnergy obtained a 35% stake in the Nzombo block, located in deep waters off Congo, under a production sharing contract signed with the Congolese government.
Phillips 66 takes full control of two US refineries for $1.4bn
Phillips 66 acquires Cenovus Energy’s remaining 50% in WRB Refining, strengthening its US market position with two major sites totalling 495,000 barrels per day.
Union strike threatens fuel deliveries from Dangote refinery
Nigeria’s two main oil unions have halted loadings at the Dangote refinery, contesting the rollout of a private logistics fleet that could reshape the sector’s balance.
ReconAfrica secures offshore block in Gabon with production sharing contract
Reconnaissance Energy Africa Ltd. enters Gabonese offshore with a strategic contract on the Ngulu block, expanding its portfolio with immediate production potential and long-term development opportunities.
BW Energy raises $365mn for Maromba FPSO and secures drilling rig
BW Energy has finalised a $365mn financing for the conversion of the Maromba FPSO offshore Brazil and signed a short-term lease for a drilling rig with Minsheng Financial Leasing.
Vantage Drilling signs 260-day contract for the Platinum Explorer
Vantage Drilling has finalised a major commercial agreement for the deployment of the Platinum Explorer, with a 260-day offshore mission starting in Q1 2026.
Permex signs agreement for potential $25mn funding with Chisos
Permex Petroleum has signed a non-binding memorandum of understanding with Chisos Ltd. for potential funding of up to $25mn to develop its oil assets in the Permian Basin.
OPEC+ approves 137,000 barrels/day increase starting in October
OPEC+ begins a new phase of gradual production increases, starting to lift 1.65 million barrels/day of voluntary cuts after the early conclusion of a 2.2 million barrels/day phaseout.
Imperial Petroleum invests in seven vessels despite a 22.8% drop in revenue
Imperial Petroleum expanded its fleet to 19 vessels in the second quarter of 2025, while reporting a decline in revenue due to lower rates in the maritime oil market.
OPEC+ prepares for decisive debate on quotas amid surplus risk
Eight OPEC+ members will meet to adjust their quotas as forecasts point to a global surplus of 3 million barrels per day by year-end.
Greek shipowners cut Russian crude links under new compliance rules
Greek shipping companies are gradually withdrawing from transporting Russian crude as the European Union tightens compliance conditions on price caps.
Transneft strategic site targeted in Russia strike
A key station on the Stalnoy Kon pipeline, essential for transporting petroleum products between Belarus and Russia, was targeted in a drone strike carried out by Ukrainian forces in Bryansk Oblast.
Iraq in talks with ExxonMobil for refining capacities in Asia
SOMO is negotiating with ExxonMobil to secure storage and refining access in Singapore, aiming to strengthen Iraq’s position in expanding Asian markets.
European Union redefines import rules for UK oil and gas
The European Union’s new import standard forces the United Kingdom to make major adjustments to its oil and gas exports, impacting competitiveness and trade flows between the two markets.
UK prepares new oil tax regime to revive UKCS competitiveness
The United Kingdom is set to replace the Energy Profits Levy with a new fiscal mechanism, caught between fairness and simplicity, as the British Continental Shelf continues to decline.
Italy seeks energy guarantees in potential sale of IP to SOCAR
The Italian government is demanding assurances on fuel supply security before approving the sale of Italiana Petroli to Azerbaijan's state-owned energy group SOCAR, as negotiations continue.

Log in to read this article

You'll also have access to a selection of our best content.