Unlocking Qatar’s Gas Goldmine: $4B Award Revealed

QatarEnergy LNG awards $4bn gas project package. QatarEnergy LNG selects Saipem and COOEC for this vital offshore contract. The move bolsters gas production from Qatar’s North Field. Contract Breakdown QatarEnergy LNG assigns the COMP5 package to Italy’s Saipem and China’s Offshore Oil Engineering Co. Ltd. (COOEC). The contract totals $4 billion, with Saipem claiming $3.1 billion. Teams start work in 2025 and finish after five years. Saipem deploys its Saipem 7000 vessel for key installations in 2029 and 2030. This package fits into the larger North Field Production Sustainability (NFPS) project.​