Saipem has signed with Saudi Aramco a Memorandum of Understanding (MoU) to explore the possibility of establishing in Saudi Arabia a new entity for the execution of engineering and construction activities in the energy and infrastructures industrial sector.
The initiative was taken in the frame of Saudi Aramco’s Nama’at Investment Industrial Program, focused on building capacity in four key sectors: sustainability, technology, industrial and advanced materials.
Focused on building capacity in four key sectors: sustainability, technology, industrial and advanced materials
In partnership with local entities and the Saudi Public Investment Fund, the agreement entails the potential creation of an ‘EPC National Champion’ capable of executing the full range of Engineering, Procurement and Construction (EPC) project activities in the Kingdom. This would maximize the employment of local resources.
Saipem has a long-standing collaboration with Saudi Aramco, including executing a broad set of activities, from onshore and offshore engineering and construction to drilling activities, with onshore and offshore rigs.