Riyadh – Mubasher: Saudi Arabian Oil Co, known internationally as Saudi Aramco, has awarded two engineering, procurement, installation, and construction (EPIC) agreements to Italy-based Saipem at a combined value of $1.3 billion.
Under the agreements, the Italian company will carry out EPIC operations for subsea systems, in addition to laying jackets, pipelines, subsea cables, umbilicals, and platform decks at Marjan and Berri fields, according to Oil and Gas newspaper.
"The Marjan oilfield is one of the major upstream developments [in 2018] that will contribute to the Kingdom’s oil production strengths, helping maintain capacity and meet domestic and global demand," Aramco’s senior vice president of upstream Mohammed Y. Al Qahtani stated in a statement which unveiled Aramco’s deal with BHGE to develop the Marjan field.
This EPIC deal with Saipem is a long-term contract for offshore activities in Saudi Arabia, Oil and Gas said, noting that the deal was renewed in 2015 and will be in force until 2021.
Last week, the world’s largest oil firm said it had awarded an EPIC contract to India-based Subsea 7 and Larsen & Toubro Hydrocarbon Engineering (LTHE), a subsidiary of India’s Larsen & Toubro (L&T), to conduct business in three subsea pipelines and oil production deck manifolds at Berri and Zuluf fields.
