Saipem awarded two new contracts offshore Saudi Arabia

Italy’s Saipem has been awarded two engineering, procurement, installation, and construction contracts assigned by Saudi Aramco for a total amount of approximately US$1.3 billion as part of the long-term agreement for offshore activities in Saudi Arabia, renewed in 2015 and in force until 2021.

COLUMN | Middle Eastern mysteries [Offshore Accounts]

Last month we looked at the failure of South East Asian offshore and vessel owning companies to restructure and address the problems of the excessive debt which they built up in the boom years. But one region has much worse governance than even South East Asia: the Middle East.

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