SAIPEM : Sonatrach and Saipem announce the amicable settlement of mutual differences

San Donato Milanese (MI), February 14, 2018 - SONATRACH and SAIPEM have decided to settle their mutual differences amicably and have signed an agreement to put an end to litigations in course concerning the contract for the construction of a gas liquefaction plant in Arzew (Arzew); the contract for the realisation of three trains of LPG, of an oil separation unit (LDPH) and of installations for the production of condensates in Hassi Messaoud (LPG); the contract for the realisation of the LZ2 24'' LPG pipeline (line and station) in Hassi R'Mel (LZ2); and the contract for the construction of an gas and production unit in the Menzel Ledjmet field on behalf of the association SONATRACH/FCP (MLE).

This agreement is the result of constructive dialogue and represents an important step forward in relations between the two companies.

SONATRACH and SAIPEM have expressed their satisfaction at having reached a definitive agreement that puts an end to litigations that were detrimental to both parties.

Saipem is one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil & gas market. The company has distinctive competences in operations in harsh environments, remote areas and deepwater. Saipem provides a full range of services with 'EPC' and 'EPCI' contracts (on a 'turn-key' basis) and has distinctive capabilities and unique assets with a high technological content.

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