Saipem, in consortium with Offshore Oil Engineering Co. Ltd. (COOEC), has secured an offshore EPCI contract from QatarEnergy LNG for the COMP5 package of the North Field Production Sustainability (NFPS) Offshore Compression Complexes project. The total contract value is approximately USD 4 billion, with Saipem’s share estimated at around USD 3.1 billion.
The NFPS initiative forms part of QatarEnergy LNG’s long-term strategy to sustain and enhance production from the North Field, the world’s largest non-associated natural gas reservoir, located offshore Qatar’s north-eastern coast.
The contract, with an estimated execution period of five years, covers the engineering, procurement, fabrication, and installation of two offshore compression complexes. Each complex will comprise a compression platform, living quarters, a flare platform supporting the gas combustion system, and associated interconnecting bridges. Each complex is expected to weigh approximately 68,000 tonnes. Offshore installation activities are scheduled to be carried out using Saipem’s Saipem De He construction vessel during 2029 and 2030.
This award follows the earlier EPCI COMP2 and COMP3 packages, which were awarded to Saipem in October 2022 and September 2024 respectively and are currently under execution. The COMP5 award further strengthens Saipem’s long-standing partnership with QatarEnergy LNG and reinforces the company’s role in delivering large-scale, technically complex offshore projects in Qatar.
Saipem is a global engineering and construction leader serving the energy and infrastructure sectors, both offshore and onshore. Operating as “One Company,” Saipem is structured across multiple business lines including Asset Based Services, Drilling, Energy Carriers, Offshore Wind, and Sustainable Infrastructures. With five fabrication yards, a fleet of 17 owned construction vessels, and 12 drilling rigs, Saipem continues to drive technological innovation. Guided by its purpose, “Engineering for a sustainable future,” the company supports clients in their energy transition journeys toward Net Zero. Listed on the Milan Stock Exchange, Saipem operates in over 50 countries and employs approximately 30,000 people representing more than 130 nationalities.
Source: Saipem