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Saipem Bags $3.1 Billion Offshore Engineering Contract from QatarEnergy LNG

MT Newswires·12/21/2025 23:18:46
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11:18 PM EST, 12/21/2025 (MT Newswires) -- Saipem (SPM.MI) secured a $3.1 billion contract covering the offshore engineering, procurement, construction, and installation of the COMP5 package of QatarEnergy LNG's North Field Production Sustainability Offshore Compression Complexes project. The contract, scheduled to run for five years, forms part of QatarEnergy LNG's target to boost the production capacity of the North Field, located off Qatar's north-eastern coast, according to a Sunday release. The oilfield services company's De He construction vessel is expected to commence offshore installation activities under the contract between 2029 and 2030.