Italy's Saipem ‍said on Sunday it had ​been awarded an offshore engineering, procurement, construction ⁠and installation (EPCI) contract by QatarEnergy LNG in partnership ⁠with China's ‌Offshore Oil Engineering Co (COOEC) .

The overall value of the contract ⁠is approximately $4 billion, with Saipem's share amounting to roughly $3.1 billion, the company said in a statement.

The deal ⁠will run for ​about five years. Offshore installation operations will be ‍carried out using the company's De He ​construction vessel between 2029 and 2030, Saipem added.

QatarEnergy CEO Saad al-Kaabi said last month the company's North Field expansion project will produce its first LNG in the second half of 2026.

QatarEnergy's North Field offshore natural gas project involves the ⁠construction of six industrial ‌units - known as gas trains - that cool natural gas into liquid ‌for ⁠export by ship.

(Reporting by Gnaneshwar Rajan in ⁠Bengaluru; Editing by Ros Russell)