Saipem lands $913m contract double in Ivory Coast and Italy

Italian energy services contractor Saipem has been awarded two new contracts, one offshore in Ivory Coast and one onshore in Italy, with a combined value of approximately $913 million. The offshore award, granted by the operator of Ivory Coast's Baleine field and its partners, covers work on the third development phase of the project, extending Saipem's involvement in one of West Africa's most closely watched offshore oil developments.

The Baleine field has been positioned as a flagship project for Ivory Coast's oil and gas sector, with successive development phases aimed at ramping up production from the offshore discovery. Securing the Phase 3 contract extends Saipem's role in the project beyond its earlier development phases, reinforcing the company's position as a preferred contractor for the field's operator as the project continues to scale up.

The separate onshore contract in Italy adds a domestic dimension to the announcement, giving Saipem a project closer to home alongside its West African offshore work. Combining offshore and onshore awards in a single announcement reflects the diversified nature of Saipem's contracting business, which spans subsea construction, offshore platforms and onshore engineering and construction work across multiple geographies and energy segments.

For Saipem, the combined contract value adds meaningfully to its order backlog at a time when offshore energy services contractors have generally benefited from sustained investment in both oil and gas development and, increasingly, offshore energy infrastructure more broadly. West Africa in particular has emerged as a significant source of offshore contracting work in recent years, with several major discoveries moving through successive development phases that require sustained contractor involvement over many years.

The dual contract win underscores Saipem's continued ability to secure large-scale awards across both established and emerging offshore basins, while its domestic Italian contract demonstrates the company's continued presence in its home market alongside its increasingly international project portfolio. Further details on the specific scope and schedule of both contracts are expected to be disclosed as the projects move into execution.