September 04, 2024 [Reuters]- Italian energy engineering group Saipem said on Tuesday it won two offshore contracts in Saudi Arabia worth around $1 billion in total, under an existing long term agreement with oil giant Saudi Aramco.

The two contracts involve the engineering, procurement, construction and installation of infrastructure, including subsea pipelines, at the Marjan oil and gas field and the Zuluf and Safaniyah oil fields, Saipem said.

Saipem, which in 2020 signed a 12-year deal with Aramco for onshore engineering and construction activities, had annual average orders of around 1.5 billion euros ($1.66 billion) from the Saudi group between 2021 and 2023.

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