Saudi Aramco awards $1.3 bln engineering deals to Italy’s Saipem

State oil giant Saudi Aramco has awarded Saipem two engineering, procurement, installation and construction (EPIC) contracts worth approximately $1.3 billion, the Italian oil and gas contractor said in a statement on Friday.

The contracts are a part of the Long Term Agreement (LTA) for offshore activities in Saudi Arabia, renewed in 2015 and in force until 2021, the statement said.

These two contracts refer to, respectively, the development of offshore fields in Berri and Marjan, located in the Arabian Gulf, which are among the most important offshore fields in the region.

Under the contracts, the activities include the design, engineering, procurement, construction, installation and implementation of subsea systems in addition to the laying of pipelines, subsea cables and umbilicals, platform decks and jackets.