Italian Oilfield Services Group Saipem Secures $3.1 Billion Offshore Engineering Deal in Qatar

12:51 AM EST, 12/22/2025 (MT Newswires) -- Italy's Saipem (SPM.MI) landed a $3.1 billion offshore engineering, procurement, construction, and installation, or EPCI, order in Qatar, building on its existing contracts with global energy operator QatarEnergy LNG. The five-year contract covers the engineering, procurement, fabrication, and installation of two compression complexes for the COMP5 package of the North Field Production Sustainability, or NFPS, Offshore Compression Complexes project, according to a Sunday release. Each compression complex includes a compression platform, a living quarter platform, a flare platform supporting the gas combustion system, and the related interconnecting bridges. Saipem's De He construction vessel will conduct offshore installation operations in 2029 and 2030. QatarEnergy LNG also awarded a portion of the EPCI contract, which is cumulatively worth $4 billion, to Offshore Oil Engineering Co. The Chinese engineering firm said QatarEnergy LNG's project, located in the Bul Hanine oilfield in the Qatari waters of the Persian Gulf, spans over 60 offshore oil-and-gas facilities and 40 subsea pipelines and cables. As a partner for the execution of complex large-scale projects, oilfield services company Saipem was also commissioned for the EPCI COMP2 and COMP3 packages. Announced in October 2022 and September 2024, respectively, the contracts are currently under execution. The overall NFPS project forms part of QatarEnergy LNG's target to boost the production capacity of the North Field, located off Qatar's north-eastern coast.