Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) has awarded Italy-based advanced technological and engineering platform Saipem two offshore projects in Saudi Arabia under a long-term agreement with a total value of around $500 million.

The first project involves the engineering, procurement, construction, and installation (EPCI) of a crude trunkline of about 50 kilometres with a diameter of 42” for the Abu Safa Field, according to a press release.

The second covers production maintenance programmes for the Berri and Manifa fields.

The awards reinforce Saipem's position in the Middle East as a global leader in offshore and onshore energy and infrastructure projects.

Saipem operates across segments like drilling, offshore wind, sustainable infrastructure and robotics/industrial solutions.

It runs 21 construction vessels, 15 drilling rigs, and has 7 fabrication yards globally.

Listed in Milan, Saipem employs over 30,000 people worldwide and aims to support clients' energy transition goals through digital means and environmentally-friendly technologies.

In June 2024, Aramco awarded contracts with a total value of more than $25 billion to boost its gas expansion strategy.

The Saudi energy giant logged SAR 102.27 billion in net profit during the first quarter (Q1) of 2024, down from SAR 119.54 billion in Q1-23.