{"id":87889,"date":"2024-07-16T00:00:00","date_gmt":"2024-07-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/16\/saipem-lands-contracts-from-aramco-worth-usd-500-for-two-offshore-projects\/"},"modified":"2024-07-16T00:00:00","modified_gmt":"2024-07-16T00:00:00","slug":"saipem-lands-contracts-from-aramco-worth-usd-500-for-two-offshore-projects","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/16\/saipem-lands-contracts-from-aramco-worth-usd-500-for-two-offshore-projects\/","title":{"rendered":"Saipem lands contracts from Aramco worth USD 500 for two offshore projects"},"content":{"rendered":"

Saipem has landed two offshore projects worth a combined USD 500 mn from oil giant <\/strong>Aramco<\/strong>, the Italian drilling company said in a statement<\/a> yesterday. The Milan-based energy contractor will carry out the engineering, procurement, construction and installation of a crude trunkline for the Abu Sa\u2019fah oil field and introduce production maintenance programs for the Berri and Manifa fields. No further details were provided.<\/p>\n

About the fields: <\/strong>The Abu Sa\u2019fah oil field is a conventional oil field<\/a> located in shallow water and jointly owned by Saudi and Bahrain. Its production capacity of 300k barrels a day is divided equally between the two nations. The Berri field is located both onshore and offshore along the eastern coast of the Kingdom, while the Manifa oil field<\/a> is a huge six-reservoir shallow oil field. It hit its target of producing 900k barrels per day in 2017.<\/p>\n

Long-standing partners: <\/strong>Saipem had annual average orders of c. EUR 1.5 bn from Aramco between 2021 and 2023. It signed a 12-year contract with Aramco in 2020 for onshore engineering and construction activities. It said earlier this year<\/a> that it is forecasting a 20% fall in average annual orders from Aramco until 2027 on the back of the oil giant\u2019s decision to shelve plans<\/a> of investment in new production capacity. However, it said Aramco\u2019s suspension would not significantly impact<\/a> its 2024 targets.<\/p>\n","protected":false},"excerpt":{"rendered":"

Saipem said the projects would \u201cconsolidate its positioning in the Middle East\u201d<\/p>\n","protected":false},"author":1,"featured_media":87890,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2570],"tags":[2388,139,2389,2425,10,2390,2387],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-abu-safah","tag-aramco","tag-berri","tag-energy","tag-enterpriseam-ksa","tag-manifa","tag-saipem","wpautop","entry"],"acf":{"mongo_id":"6959a8a7-5ac8-4aad-86fd-e16c0c89c359","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1194.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saipem lands contracts from Aramco worth USD 500 for two offshore projects","related_issue":[87878],"teaser":"Saipem said the projects would \u201cconsolidate its positioning in the Middle East\u201d","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.594c1a01-11f5-4423-ac4f-a29bd053eaf6.mp3"},"yoast_head":"\nSaipem lands contracts from Aramco worth USD 500 for two offshore projects - 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