Saipem Scores US$1.7 Billion in Contracts

Onshore and Offshore Wins in Three Continents

Oil and gas engineering specialist Saipem has announced contracts valued at about US$1.7 billion across its onshore and offshore divisions.
The new contracts and extensions encompass 19 land-rigs located in Middle East, with power between 1,500 and 2,000 horsepower, as well as offshore projects in Norway and Angola.

“The award of these contracts proves the solidity and reliability of the operational performance of our drilling divisions, and further strengthens Saipem’s long-time presence in strategic areas of the world,” said Stefano Cao, CEO of Saipem.

Long-term Commitment

Alongside its extensive project work in the Middle East, Saipem also announced new onshore contracts and extensions assigned for new works to be executed in Bolivia, Perù and Romania. 
The new contracts and extensions range in duration from three to 10 years.
Headquartered in Italy, Saipem provides onshore and offshore breakbulk transport, drilling services, engineering and installation of pipelines and complex projects worldwide. 

Latini Resigns

The firm also announced that Pierfrancesco Latini, a non-executive and non-independent member of the board, had resigned.
The change follows Latini’s appointment as managing director of Italian export credit organization Servizi Assicurativi del Commercio Estero, or SACE.