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Saipem Wins $1 Billion Onshore Contracts in Saudi Arabia, Nigeria

Date : 06/27/2012 @ 6:01AM
Source : Dow Jones News
Stock : Saipem (SPM)
Quote : 14.08  0.19 (1.37%) @ 11:30AM
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Saipem Wins $1 Billion Onshore Contracts in Saudi Arabia, Nigeria

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By Liam Moloney

ROME--Saipem SpA (SPM.MI), Europe's biggest oil services company by market value, Wednesday said it had won onshore engineering and construction projects worth a combined $1 billion in Saudi Arabia and Nigeria.

In a statement, Saipem said the Saudi deal was for the expansion of the integrated refinery and petrochemicals complex in the city of Rabigh on the Western coast.

Saipem, which is controlled by Eni SpA (E), also said it got a contract for the Otumara-Saghara-Escravos pipeline project by Royal Dutch Shell PLC (RDSA) in Nigeria.

Write to Liam Moloney at liam.moloney@dowjones.com



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