Saipem gets $1.3bn contracts from Africa, Middle East

28 November 2011, Sweetcrude, Abuja – Leading oil services firm, Saipem, says it has earned contracts totalling more than $1.3 billion from North and West Africa as well as the Middle East, Latin America and Australia.

The Eni-controlled company said one of its joint venture companies had been awarded a contract by Etihad Rail to build a new railway tract in Abu Dhabi linking two gas fields to a major port.

Saipem is joined by Dodsal Engineering & Construction and Maire Tecnimont in the deal which will link the Shah and Habshan producing gas fields with Ruwais. The 260 kilometre-long track will be finished at the end of 2014.

The company has also won a contract, as part of another joint venture, to built a new quay and two breakwaters at the port of Tangiers in Morocco. The deal, for Tangier Mediterranean Special Agency, will wrap up in the third quarter of 2014.

Saipem did not give a breakdown of the individual contract values but said that, along with some increases to current contracts in Latin America, West Africa and Australia, the value of all contracts was around EUR 1 billion ($1.34 billion).