Saipem Announces $1bn Contracts In Nigeria, Saudi Arabia

VENTURES AFRICA – Italian oil services company Saipem S.p.A has announced the agreement of onshore contracts worth $1 billion that will see it contractor carry out operations in major oil producing countries, Nigeria and Saudi Arabia.

According to a Reuters report, the contract in Saudi Arabia forms part of the expansion of an integrated refinery and petrochemical complex in the city of Rabigh, on the western coast of the oil-rich Middle East nation.

The contract also stipulates that the oil and gas industry contractor will work for a pipeline project by Shell Petroleum Development Company in Nigeria.

Reports indicate that the contracts would span between 18 months and three years.