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Saipem Secures $3.5 billion New Gas Fields Contracts in Abu Dhabi

Abu Dhabi : 01 May 2010

Saipem SpA, the biggest oilfield services provider company in Europe, reported that they have just secured well over $3.5 billion in new contracts for the processing of gas and the recovery of sulfur from a gas field in the Abu Dhabi region.

It has also been reported by an unnamed source that Samsung Engineering Company has also just been awarded another contract which is also believed to be worth a couple of billion dollars.

The contracts awarded to Saipem are believed to be for almost $1.5 billion and will include recovering sulfur and they have been awarded more than $195 million for gas and sulfur pipelines. Samsung are then contracted to build the buildings and utility works that will be required for the project.

Abu Dhabi is also going ahead with a sour gas project even though the initial investor pulled out earlier this week. The Abu Dhabi region need this project which is based at Shah if they are to meet their projected domestic power needs over the coming years.

The development of this field in Abu Dhabi will cost in the region of $10 billion it has been reported and this will be for the processing of nearly 30 million cubic meters of gas per day. This gas is called sour gas which is natural gas that is composed of high levels of hydrogen sulfide so the gas and the sulfur need to be separated during processing.

Andrew Reid, Staff Writer, Gulf Jobs Market News
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