Saipem wins $4.5bn installation contract from Qatargas

Saipem has won a $4.5bn engineering and construction contract from Qatargas Operating Co. to support the expansion of natural gas production off the northeast coast of Qatar.

The contract, the biggest in the Milan-based company’s history, involves the installation of two offshore gas compression complexes in the North Field, including two of the largest fixed steel jacket compression platforms ever built, Saipem said in a statement.

Qatar is expanding its gas production capacity amid a global shortage that has sent prices for heating and power-generation fuel skyrocketing over the past year.