Business
China's Offshore Oil Engineering wins $4 bln Qatar LNG project with Saipem
China's Offshore Oil Engineering wins $4 bln Qatar LNG project with Saipem
About this update from Saipem S.p.a.
China's Offshore Oil Engineering (COOEC) SSE:600583 said on Friday it had won a bid for a project from QatarEnergy LNG worth about $4 billion, due to be carried out in partnership with Italy's Saipem MIL:SPM.The five-year project includes the construction of two compressor platforms and related facilities in Qatar's North Field, the world's largest non-associated natural gas field. The Chinese company said its share of the contract exceeded $800 million and it would be responsible for building the main facilities and part of the design and procurement work, a filing to Shanghai Stock Exchange showed on Friday.Saipem already announced the contract in December. COOEC said on Friday that the project is pending final contract signing.