Saipem Signs Offshore Long-Term Agreement with Aramco

Key Highlights:

1. Agreement Renewal: Saipem’s framework agreement with Saudi Aramco extended until end of 2027.
2. LTA Benefits: Saipem remains on Aramco’s exclusive list of contractors eligible to bid for CRPOs (Contract Release Purchase Orders).
3. Scope of Work: Covers both new investment projects and maintenance of offshore production capacity.
4. Execution in KSA: Contracts will be executed through a local consortium between: 

• Snamprogetti Saudi Arabia (Saipem subsidiary)
• STAR (Saipem Taqa Al-Rushaid Fabricators Co.)

1. Local Commitment: Leverages Saudi-based fabrication yard established in 2008 to maximize local involvement.
2. Ongoing Collaboration: Reflects strong historical partnership between Saipem and Saudi Aramco across onshore, offshore, and drilling sectors.
3. Strategic Importance: Highlights Saipem’s trusted services, technological expertise, and commitment to the Kingdom’s energy sector.

Summary:

Saipem has renewed its Long-Term Agreement (LTA) with Saudi Aramco, extending it until the end of 2027. This renewal secures Saipem’s position among the select contractors eligible to bid for offshore projects in Saudi Arabia. If awarded, these projects will be executed locally through a consortium between Snamprogetti Saudi Arabia and STAR (Saipem Taqa Al-Rushaid Fabricators Co.), enhancing local engagement and utilizing the company's Saudi-based fabrication yard. The renewal reflects Saudi Aramco’s continued trust in Saipem’s capabilities and strengthens their longstanding partnership in the Kingdom’s offshore oil and gas industry.