Saipem Signs Saudi Joint Venture Agreement

The proposed company plans to „combine Saipem`s EPC skills and skills with AHQ`s experience in logistics, construction and supply chain,“ Saipem said, adding that the company would be a top animal contractor. „Saudi Arabia has been a central market for Saipem from the beginning, and our goal is to maintain our role as EPC`s leader in the country,“ said Maurizio Coratella, Chief Operating Officer of Saipem`s Onshore E-C division. „We are committed to creating this joint venture with AHQ to leverage synergies to support our main customer, Saudi Aramco.“ On Monday, Aramco announced that it had signed 66 contracts worth $21 billion under its ICTVA programme. Saipem has signed a Memorandum of Understanding with the Saudi construction company Abdel Hadi Abdullah Al Qahtani – Sons Company (AHQ). With this agreement, the two companies have indicated the way to the creation of a joint venture in Saudi Arabia and have combined Saipem`s EPC skills and skills with AHQ`s knowledge and experience in logistics, construction and supply chain. The joint venture aims to maximize local added value and become a leading player in land-based construction and EPC projects for onshore pipelines. Saipem and Studio Rinnovabili, an independent company that provides both technical and economic consulting services for renewable energy and energy efficiency projects, have entered into a cooperation agreement on the […] Italy Saipem has won a joint venture (JV) engineering, acquisition and construction (EPC) for an onshore liquefied natural gas (LNG) project … Italian mechanical engineering giant Saipem has signed an agreement with Saudi Arabian group Abdel Hadi Al-Qahtani to create a joint venture capable of carrying out large contracts in the oil and gas markets. The agreement lays the groundwork for Saipem and AHQ to create a joint venture (JV) in Saudi Arabia, which combines Saipem`s skills and skills, as well as in the fields of engineering, procurement and construction, with the knowledge and know-how of the AHQ in logistics, construction and supply chain, Saipem said in a written statement sent to Rig.

The Italian-based company added that the joint venture aimed to become a leading player in land-based construction and onshore-pipeline EPC projects. Through this agreement, the two companies will create a joint venture (JV) in Saudi Arabia to maximize local added value and become a leading player in land-based construction and pipeline engineering, procurement and construction (EPC) projects. Saudi Aramco signs more than $21 billion in deals at the location event The contractor was behind by 19.8 billion euros (78.8 billion DH) at September 30, 2019, after receiving 13.9 billion euros in new contracts in the first nine months of last year.