Saipem, in partnership with Offshore Oil Engineering Co. Ltd. (COOEC), has been awarded an offshore EPCI contract by QatarEnergy LNG for the COMP5 package of the North Field Production Sustainability (NFPS) Offshore Compression Complexes project.
The overall value of the contract is approximately 4 billion USD and Saipem’s share amounts to approximately 3,1 billion USD.
The NFPS project is part of QatarEnergy LNG's strategy of maintaining and increasing the production capacity of the North Field, the world's largest “non-associated” natural gas field, located off the north-eastern coast of Qatar.
The contract awarded to Saipem, with a total duration of approximately 5 years, comprises engineering, procurement, fabrication and installation of two compression complexes, each including a compression platform, a living quarter platform, a flare platform supporting the gas combustion system, and the related interconnecting bridges. Each complex will have a total weight of about 68,000 tons. Offshore installation operations will be carried out by Saipem's De He construction vessel approximately in 2029 and 2030.
This new contract follows the EPCI COMP2 and COMP3 packages, awarded to Saipem and disclosed to the market in October 2022 and September 2024 respectively, which are currently under execution. The award of the COMP5 package consolidates Saipem’s collaboration with QatarEnergy LNG and reinforces the company’s presence in Qatar as a partner for the execution of complex large-scale projects.
