Saipem, together with its partner Offshore Oil Engineering (COOEC), has secured an offshore engineering, procurement, construction and installation (EPCI) contract from QatarEnergy LNG.
The contract is for the COMP5 package of the North Field Production Sustainability (NFPS) offshore compression complexes project.
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This award follows the EPCI contracts for the COMP2 package in October 2022 and for COMP3 in September 2024, which are currently under execution.
Saipem said the total contract value stands at around $4bn, and its share is estimated at around $3.1bn.
Under the contract, Saipem will be responsible for engineering, procurement, fabrication, and installation of two offshore compression complexes for a period of five years.
Each complex will include a compression platform, a living quarter platform, a flare platform for the gas combustion system, and the necessary interconnecting bridges.
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By GlobalDataThe total weight of each complex is expected to be about 68,000 tonnes (t).
Saipem’s De He construction vessel will undertake offshore installation operations, scheduled for 2029 and 2030.
The NFPS project forms a key part of QatarEnergy LNG’s plan to sustain and expand gas output from the North Field.
Saipem describes the North Field as one of the world’s largest non-associated natural gas reserves, located offshore Qatar’s north-eastern coast.
The latest COMP5 contract further extends its engagement with QatarEnergy LNG and strengthens its presence in Qatar for large-scale offshore projects, said Saipem.
In October this year, Saipem announced the award and extension of new offshore drilling contracts valued at up to $135m (€116.4m), which will support the company’s activities in West Africa, the Mediterranean, and the Far East.
The Santorini drillship will continue operations in Ghana and Côte d’Ivoire for Eni Ghana Exploration & Production and Eni Côte d’Ivoire.
