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Italian State Oil Company Says Committed to Saudi Collaboration

Italian State Oil Company Says Committed to Saudi CollaborationItalian State Oil Company Says Committed to Saudi Collaboration

Italian oil services company Saipem is committed to Saudi Arabia and plans to take part in a series of tenders in the country, its chief executive said on Wednesday. 
On a conference call for third-quarter results, Stefano Cao said state energy company Saudi Aramco remained his group’s biggest client and the country continued to be a major pillar in its strategy, Reuters reported. 
“The sheer size of investments by Saudi Aramco is the long-term basis for our engagement and commitment,” Cao said. 
Saudi Arabia signed deals worth more than $50 billion in the oil, gas, infrastructure and industries sectors, reports said on Tuesday. 
But US and European reaction to Saudi Arabia’s account of the death of dissident journalist Jamal Khashoggi is stifling some of the enthusiasm for business opportunities in the kingdom. 
“Saudi Arabia is very, very important and there are many more projects we’ll be participating in,” Cao said. 

 

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