Italian energy and offshore engineering company Saipem has announced the award of three new offshore contracts totaling approximately €600 million, strengthening its project portfolio across the Caspian Sea, North Sea, and West Africa.
According to the company’s official statement released on October 15, 2025, the new contracts include subsea installation and engineering projects for long-standing clients in key offshore markets, reinforcing Saipem’s leadership in subsea construction and field development.
The first contract, awarded by BP for the Shah Deniz gas field in Azerbaijan, covers subsea pipeline installation, tie-in, and pre-commissioning works. Saipem will deploy its flagship pipelaying vessel Castorone and support assets for operations in the Caspian Sea, with execution scheduled to start in early 2026.
The second contract, located in the North Sea, involves the installation of subsea structures and pipelines for an undisclosed operator. This project will be carried out by Saipem’s S7000 heavy-lift vessel, leveraging its dual-crane lifting capability for offshore construction in harsh weather conditions.
The third contract, in West Africa, covers engineering, procurement, construction, and installation (EPCI) of offshore infrastructure to support oil and gas field expansion. Saipem will perform the work using its regional fabrication facilities and installation vessels based in Nigeria and Angola.
Saipem stated that the three new awards demonstrate the company’s continued competitiveness in offshore engineering and subsea development, particularly in complex deepwater environments.
“These new contracts confirm Saipem’s strong position in the offshore segment and its ability to deliver high-quality engineering and execution services across multiple geographies,” the company said in its press release.
The company added that these projects align with its strategy to balance traditional oil and gas operations with the energy transition, ensuring steady revenue streams while preparing for future offshore renewables and carbon capture markets.
