Italy's Saipem wins offshore contract worth $2 bln in Saudi Arabia

MILAN, Sept 18 (Reuters) - Italian energy engineering group Saipem SPMI.MI said on Wednesday it had won an offshore contract worth around $2 billion for the development of the Marjan oil field in Saudi Arabia.

The contract was signed under the existing long-term agreement with oil giant Saudi Aramco 2222.SE, the company said in a statement.

Saipem said earlier this month it had won two other offshore contracts with Saudi Aramco worth about $1 billion in total, and an offshore contract worth $4 billion with QatarEnergy, one of the world's top LNG suppliers.

Under the deal announced on Wednesday, Saipem said it would provide "engineering, procurement, construction and installation of wellhead platforms' topsides, wellhead platforms' jackets, tie-in platform jacket and topside, rigid flowlines, submarine composite cables and fiber optic cables."

By 1143 GMT Saipem shares were up 1.48%

(Reporting by Sara Rossi, editing by Alvise Armellini)

((sara.rossi@thomsonreuters.com; +39 06 8030 7736;))

More This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.