Italy-headquartered oil services group Saipem has signed a memorandum of understanding with the Client for the design and construction of a 500 megawatt (MW) floating offshore wind farm. The company will sign a contract to carry out engineering, design, construction and installation of the wind farm after the finalisation of the financial agreements at the end of planning phase of the project. Use of the company's cost-efficient Hexafloat technology for the project will support the development the wind market in Saudi Arabia.
Saipem S.p.A has been awarded the Main & MEP contract in this project.
Project work is currently under progress.
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