Saipem Lands $681m Deals

Saipem Lands $681m DealsSaipem Lands $681m Deals

Saipem has been awarded new contracts by Saudi Aramco and Eni, which are cumulatively valued at $681 million (€600 million).

Saipem's contract with Aramco involves the engineering, procurement, transportation and installation of offshore structures, including the observation platform, wellhead production deck module, auxiliary platforms, 20-inch internally cladded flowline and composite power cable.

Installation activities will be performed offshore Saudi Arabia, World Oil reported.

 Saipem was also awarded an EPCI contract by Eni for its Block 15/06 East Hub Development, located about 350 kilometers northwest of Luanda, Angola.

The scope of works includes the provision of five flexible risers and 20 kilometers of rigid flowlines, as well as installing SURF facilities, which include umbilical sections, rigid spools, well jumpers and 14 PLETs to be fabricated in Angola. The project will be completed by the end of 2016.

The major deals come a week after a Milan court ruled that Saipem and five people should stand trial on charges the oil services group paid bribes to win contracts in Algeria, legal sources said.

Saipem's parent company, Italian oil major Eni, Eni's former chief executive Paolo Scaroni and its former head of North Africa were cleared in the case.

Those made to stand trial for alleged international corruption and tax fraud are three former top executives at Saipem and two Algerian intermediaries, the sources said.

Prosecutors allege that Saipem paid intermediaries €197 million to bag contracts worth €8 billion with Algeria's state-owned Sonatrach.