Saipem secures onshore contracts worth USD 600 million in Saudi Arabia

Europe's biggest oil services company by market value, has clinched engineering and construction onshore contracts worth about USD 600 million.

In a statement, Saipem said that it was awarded a contract for the Safco V project by the Saudi Arabian Fertilizer Co. The project is due to be completed in the first half of 2014.

Saipem, which is controlled by Eni SpA, also said it agreed to various increases in the scope of its works on existing onshore contracts.