Italian energy services contractor Saipem has bagged $1.25 billion worth of onshore and offshore contracts in the Middle East.
The awards include four new Engineering, Procurement, Construction and Installation (EPCI) contracts with a combined value of $650 million and extension of existing onshore drilling contracts worth approximately $600 million, the company said in a stock exchange statement.
Saipem said the EPCI contracts consist offshore jackets, bridges, subsea pipelines, composite underwater cables, umbilicals, fiber optic cables and brownfield modifications.
The drilling contracts involve 10-year extensions for four land-rigs deployed in the Middle East for exploration and production activities in oil and gas fields.
(Reporting by Anoop Menon; edited by Seban Scaria)