Saipem revealed that it and Saudi Aramco have signed a memorandum of understanding which aims to explore the possibility of establishing a new entity in Saudi Arabia for the execution of engineering and construction activities in the industrial sector.
The agreement includes the potential creation, in partnership with local entities, of a ‘National EPC Champion’ capable of performing, in the UK, a full range of project engineering, procurement and construction activities. construction (EPC), while maximizing the use of local resources, Saipem noted. The deal was made as part of Aramco’s Nama’at industrial investment program, which focused on building capacity in four sectors – sustainability, technology, industrial and advanced materials.
“Saipem has a long-standing collaboration with Saudi Aramco, including executing a wide range of activities, from onshore and offshore engineering and construction to drilling activities, with onshore and offshore platforms. “Saipem said in a statement posted on its website.
Saipem has announced several agreements with Aramco in recent years. In November 2020, the company revealed that it had signed a framework agreement with Aramco, lasting for twelve years, covering engineering and construction activities on land. The deal included efficiency activities on existing facilities and is part of Saudi Aramco’s larger long-term plan to update its facilities in the country’s eastern province, Saipem said.
In February 2020, Saipem signed an EPCI agreement with Aramco encompassing the design, engineering, procurement, construction and installation of a 36 inch carbon steel pipeline on the existing network around the area of Ju’aymah and brownfield services on the associated offshore platform. In July 2019, Saipem announced that it had won two new contracts in Saudi Arabia, by Aramco, worth more than $ 3.5 billion. The two projects concerned the development of onshore facilities for the Berri and Marjan gas fields, both located in the Persian Gulf.
Aramco is one of the world’s largest integrated energy and chemicals companies, says the company on its website, which shows Aramco manages the Kingdom’s proven reserves of 336.87 billion barrels equivalent. oil and employs over 70,000 people.
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