Saipem has won an offshore engineering, procurement, construction and installation contract in the Middle East worth about $1.8 billion, the Milan-listed contractor said in an August 12 statement. The award covers offshore and subsea structures under a single EPCI contract, the model in which one company handles the design, the equipment procurement, the construction and the installation of a project, rather than splitting that work across separate firms.
Company scale
Saipem organizes its operations into five business lines: Asset Based Services, Drilling and Sonsub, Energy Carriers, Offshore Wind, and Sustainable Infrastructures. The contract will draw on a company that runs five fabrication yards and an offshore fleet of 17 company-owned construction vessels, plus 12 drilling rigs, nine of which it owns.
| Metric | Figure |
|---|---|
| Contract value | about $1.8 billion |
| Fabrication yards | 5 |
| Owned construction vessels | 17 |
| Drilling rigs | 12 (9 owned) |
| Countries of operation | more than 50 |
| Employees | about 30,000, from 125 nationalities |
Saipem is listed on the Milan stock exchange.
