Italian energy services provider Saipem has secured a new offshore contract, valued at approximately $2bn (€1.8bn), for the development of an oil and gas field in Saudi Arabia. This contract, which is part of the long-term agreement with Saudi Aramco and follows the completion of the bidding procedure, is for the Marjan field.

Italian oilfield services player Saipem has confirmed the awarded of a new offshore contract with Saudi Aramco for the development of the giant Marjan field in Saudi Arabia.

Saipem has been awarded a $2 billion offshore contract with Saudi Aramco for the development of the Marjan oil field in Saudi Arabia.

Italian energy engineering group Saipem said on Wednesday it had won an offshore contract worth around $2 billion for the development of the Marjan oil field in Saudi Arabia.