COOEC, Saipem Win $4 Billion Qatar North Field LNG Compression Project

China’s Offshore Oil Engineering and Saipem have secured a $4 billion contract from QatarEnergy LNG to build two offshore compressor platforms in the North Field, advancing Qatar’s massive LNG expansion program.

(Reuters) — China's Offshore Oil Engineering (COOEC) said on Feb. 13 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.

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 Feb. 13.

Saipem already announced the contract in December.

COOEC said on Feb. 13 that the project is pending final contract signing.