Saudi Aramco Renews Long-Term Agreements with Saipem and Lamprell

Saudi Aramco, the Saudi Arabian oil giant, has recently renewed its long-term agreements with the Italian offshore engineering and construction company Saipem and the UAE-based fabricator Lamprell.

The agreement between Saudi Aramco and Saipem has been extended until the end of 2027. This renewal solidifies Saipem’s position as one of the exclusive contractors eligible to bid for work orders from Saudi Aramco. These contracts may involve the construction of new investment projects and projects aimed at maintaining production capacity from Saudi Arabia’s offshore fields.

If awarded a contract, Saipem will collaborate with its subsidiary, Snamprogetti Saudi Arabia, and Saipem Taqa Al-Rushaid Fabricators (STAR) to carry out the work. The focus will be on maximizing local activities by utilizing the local fabrication yard established in Saudi Arabia in 2008.

In the case of Lamprell, the long-term agreement extension continues the partnership that began in 2018. Lamprell has already completed several projects and is currently working on additional projects at its facility in the UAE.

Both Saipem and Lamprell play crucial roles in supporting Saudi Aramco’s operations and contributing to the development of the oil and gas industry in the region. The renewals of these agreements highlight the strong relationships and collaboration between these companies and Saudi Aramco.