Saipem and Petrobel have finalised offshore contract variations worth US$900 million for engineering, procurement, construction and installation (EPCI) activities in relation to the ‘optimised ramp up’ phase of the ‘supergiant’ Zohr Field development project situated in the Mediterranean Sea off the Egyptian coast.
Petrobel is a joint venture between IEOC (an Eni subsidiary in Egypt) and EGPC (Egyptian General Petroleum Corporation) and is in charge of the development of Zohr on behalf of PetroShorouk, a joint venture between EGAS (Egyptian Natural Gas Holding Company) and IEOC.
