Saipem said in a statement that the contract was signed within the framework of the existing long-term agreement with oil giant Saudi Aramco.
Saipem said earlier this month it had won two more offshore contracts with Saudi Aramco worth a total of about $1 billion, and a $4 billion offshore contract with Qatar Energy, one of the world’s largest suppliers of liquefied natural gas.
Under the agreement announced on Wednesday, Saipem said it will undertake engineering, procurement, construction and installation work on the field.
By 11:43 GMT, Saipem shares were up 1.48 percent.
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