Saipem Secures Major Contract with QatarEnergy for North Field Expansion

Italian firm Saipem has announced that it has secured a substantial contract from QatarEnergy, in partnership with a Chinese offshore engineering company, for the North Field liquefied natural gas project.

The contract is valued at approximately four billion dollars, with Saipem's portion amounting to about 3.1 billion dollars.

The project is scheduled for execution over a five-year period, with offshore installation activities planned to be conducted by the company's construction vessel, "De He," during 2029 and 2030.

Last month, Saad Al-Kaabi, CEO of QatarEnergy, announced that the North Field expansion project is expected to produce its first shipment of liquefied natural gas in the latter half of 2026.

The initiative involves the construction of six industrial units designed to convert gas into a liquid state for maritime export, thereby reinforcing Qatar's status as a leading global supplier of liquefied natural gas.