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Italy's Saipem awarded $1.5 billion contract for Turkey's largest gas field
Italy's Saipem awarded $1.5 billion contract for Turkey's largest gas field
About this update from Saipem S.p.a.
Italian engineering group Saipem MIL:SPM has won a $1.5 billion contract to continue the development of Turkey's largest offshore natural gas field, it said on Wednesday. The contract, awarded by Turkish Petroleum OTC, covers the third phase of a project to develop the Sakarya field, focusing on the construction of a floating production unit and a new trunkline connecting it to an onshore facility on the mainland.Saipem had already been involved in Sakarya's first and second phases of development.The new contract will last up to three years, with the offshore work taking place in 2027, the company said.