Aramco, Italy’s Saipem Co-sing Accord

Saipem, an Italian energy services business, announced that it has signed an agreement with Saudi Aramco, to consider the formation of a subsidiary to perform engineering and construction work in Saudi Arabia.

Saipem, in a statement, announced that the new company will engage in the energy and industrial infrastructure sectors on engineering and construction projects.

The agreement, which was inked on September 7th, is part of Saudi Aramco’s Namaat Industrial Investments Program.