Saipem receives $3.1 billion contract in Qatar
Saipem, in partnership with Offshore Oil Engineering Co.Ltd. (COOEC), has been awarded by QatarEnergy LNG an offshore Epci contract for the COMP5 package of the North Field Production Sustainability (Nfps) Offshore Compression Complexes project. The total value of the contract is approximately USD 4 billion and Saipem's share amounts to approximately USD 3.1 billion.
The Nfps project is part of QatarEnergy LNG's strategy to maintain and increase the production capacity of the North Field, the world's largest 'non-associated' natural gas field off the north-eastern coast of Qatar.
The contract awarded to Saipem, with a total duration of approximately five years, provides for the design, procurement, fabrication and installation of two compressor plants, each consisting of a compression platform, a housing platform, a flare support platform for gas combustion, and interconnection bridges.
This new contract is in addition to the COMP2 and COMP3 EPCI packages awarded to Saipem and communicated to the market in October 2022 and September 2024 respectively, which are currently under execution. The award of the COMP5 package consolidates Saipem's collaboration with QatarEnergy LNG and strengthens the company's presence in Qatar as a partner for the implementation of large-scale complex projects.
