Monday 19 April 2021

Saipem to develop Qatar offshore gas project for $1.7 billion

SAN DONATO MILANES, February 22, 2021

Saipem has been awarded a $1.7-billion contract to develop the North Field Production Sustainability Offshore Project, located offshore North-East of Qatar.
The scope of work encompasses the engineering, procurement, construction and installation of various offshore facilities for the extraction and transportation of natural gas, including platforms, supporting and connecting structures, subsea cables and anticorrosion internally cladded pipelines. The work also includes the decommissioning of a pipeline and other significant modifications to existing offshore facilities.
The pipe-laying and lifting operations will be executed by the DE HE vessel in water depths of approximately 65 m, leveraging on Saipem’s high-end welding technology for corrosion resistant cladded pipelines to meet the client Qatargas’s stringent quality requirements.
The project aims at increasing the early gas field production capacity to 110 million tonnes per annum.
This new contract is the latest of a string of projects awarded to Saipem since its return to the country in 2018 with the Barzan project, nearing completion. 
Saipem is already executing the WHP12N Jacket project, awarded in July 2020, which is part of the North Field Production Sustainability Offshore Project development.
This new contract is included in December 31, 2020, backlog.
Additionally, Qatargas has also awarded Saipam the contractual package regarding offshore export pipelines and related onshore works of the North Field Production Sustainability Pipelines Project.
Stefano Porcari, Saipem E&C Offshore Division COO, commented: “Saipem is well positioned and actively executing various contracts in Qatar, a key market for us with several offshore investments expected to progress in the near future. This acquisition by Qatargas consolidates our position in the gas sector, confirms our strategic role in the energy transition and represents a token of confidence in Saipem's experience and proven ability to successfully execute and deliver challenging projects. Furthermore, it also confirms the relevance and effectiveness of the early engagement model adopted through our division XSIGHT, which recently concluded, ahead of time, the Front-End Engineering Design contract for the whole NFPS development programme”. --Tradearabia News Service


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