Saipem Secures Major Contract with Qatar Energy for North Field Expansion

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

The total value of the contract is approximately $4 billion, with Saipem's share amounting to about $3.1 billion.

The execution of the project is expected to span five years, with marine installation operations scheduled to take place using the company’s construction vessel, "De He," during 2029 and 2030.

Qatar Energy CEO Saad Al-Kaabi announced last month that the North Field expansion project is set to produce its first liquefied natural gas shipment in the second half of 2026.

The project involves the construction of six industrial units to convert gas into its liquid state, facilitating maritime export and reinforcing Qatar's position as a leading global supplier of liquefied natural gas.