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Saipem signs Memorandum of Understanding (MoU) with Saudi Aramco for a potential NewCo in KSA

GO NET ZERO ENERGY

Saipem signs Memorandum of Understanding (MoU) with Saudi Aramco for a potential NewCo in KSA

Saipem and Saudi Aramco have signed a Memorandum of Understanding (MoU) aimed at exploring the possibility to establish a new entity in Saudi Arabia for the execution of engineering and construction activities in the industrial sector. - Saipem

The initiative was taken in the frame of the Saudi Aramco’s Nama’at Industrial Investment Program, focused on capacity building in four key sectors: sustainability, technology, industrial and advanced materials.

The agreement entails the potential creation, in partnership with local entities, of an “EPC National Champion” capable of executing, in-Kingdom, the full range of Engineering, Procurement and Construction (EPC) project activities, while maximising the employment of local resources.

Saipem has a long-standing collaboration with Saudi Aramco, including the execution of a wide set of activities, from onshore and offshore engineering and construction to drilling activities, with onshore and offshore rigs.

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