Saipem explores new Saudi Arabia venture
By Andy Brown22 September 2021
Italy-based engineering and construction firm Saipem is exploring the possibility of setting up a new entity in Saudi Arabia for the execution of engineering and construction activities in the energy and infrastructures industrial sector.
Saipem has signed a Memorandum of Understanding (MoU) with Saudi Aramco as it looks at the possibility of establishing a new player in the Saudi Arabian market.
Saudi Aramco has a Nama’at Investment Industrial Program focused on building capacity in four key sectors: sustainability, technology, industrial and advanced materials.
The MoU could lead to a partnership creating a company capable of providing a full range of engineering, procurement and construction (EPC) projects.
Saipem has a long-standing collaboration with Saudi Aramco, including the execution of a wide set of activities, from onshore and offshore engineering and construction to drilling activities, with onshore and offshore rigs.