DUBAI — China's Bomesc Offshore Engineering Company on Thursday signed a $220 million deal to develop an offshore oil and gas project in Qatar with Servizi Energia Italia, a subsidiary of Saipem, the Italian multinational oil field services provider. The move represents another step in China’s increasing interest in Middle Eastern energy.
The Tianjin-based engineering, procurement and construction firm will build the compression facility for an oil and gas field off the coast of northern Qatar for Servizi Energia Italia, an industrial machine manufacturer, according to a press release from Bomesc reported Chinese state-owned financial news agency Yicai Global.
Bomesc — which designs professional electronic modules mainly for offshore oil and gas, mining and liquified natural gas (LNG) projects — said the deal will increase the company’s economic performance in the years to come.
Saipem announced in October of last year that it had been awarded a contract with Qatargas, now QatarEnergy, valued at $4.5 billion, according to a company press statement. As per the agreement, Saipem will lead in the engineering, procurement, fabrication and installation of two offshore natural gas compression complexes off Qatar's northeast coast.
