Saipem, in partnership with Offshore Oil Engineering Co. Ltd. (COOEC), has been awarded an offshore EPCI contract by QatarEnergy LNG for the COMP5 package of the North Field Production Sustainability (NFPS) Offshore Compression Complexes project. The contract is worth approximately $4 billion, with Saipem’s share amounting to approximately $3.1 billion.
The NFPS project is part of QatarEnergy LNG’s strategy to maintain and increase production capacity at the North Field, the world’s largest ‘non-associated’ natural gas field, located off the north-eastern coast of Qatar.
The contract awarded to Saipem, which lasts approximately 5 years, involves the design, procurement, manufacture and installation of two compression plants. Each plant consists of a compression platform, a living quarter platform, a flare support platform for gas combustion and the interconnecting bridges. Each complex will have a total weight of approximately 68,000 tonnes. Offshore installation operations will be carried out by Saipem’s De He construction vessel, tentatively scheduled for 2029 and 2030.
This new contract is in addition to the EPCI COMP2 and COMP3 packages which were awarded to Saipem and announced to the market in October 2022 and September 2024 respectively. They are currently being implemented. The new COMP5 package consolidates Saipem’s collaboration with QatarEnergy LNG and strengthens the Company’s presence in Qatar as a partner for implementing complex large-scale projects.
Saipem is a global leader in the engineering and construction of large-scale projects in the energy and infrastructure sectors, both offshore and onshore. Saipem is a ‘One Company’ organized into business lines: Asset Based Services, Drilling, Energy Carriers, Offshore Wind, Sustainable Infrastructures. The company has five manufacturing yards and an offshore fleet of 17 construction vessels and 12 drilling rigs, nine of which it owns. With a long-standing focus on technological innovation, the vision that inspires the company is ‘Engineering for a sustainable future.’ This is why Saipem is committed to supporting its customers every day in their energy transition towards Net Zero, with increasingly digital processes, technology and equipment geared towards environmental sustainability.Listed on the Milan Stock Exchange, it operates in over 50 countries worldwide and employs approximately 30,000 people of over 130 different nationalities
Translation by Giles Foster
