Italian contractor Saipem bags $500m worth offshore contracts

Italian oilfield services company Saipem said that it has bagged various engineering, procurement, construction, and installation (EPCI) contracts worth over $500 million in various parts of the world.

The first of the EPCI contracts was given by Saudi Aramco in Saudi Arabia as part of the long-term agreement signed by the parties, which will be valid until 2021.

Saipem said that the scope of the offshore work covers the design, engineering, procurement, construction, and installation of a 36” carbon steel pipeline onto the existing network around the Ju’aymah area and brownfield services at the related offshore platform.

In West Africa, the Italian oilfield services company has won a contract from Eni Angola which pertains to the Cabaça and Agogo Early Phase 1 developments.

Under this contract, Saipem will be responsible for the EPCI of risers, production flowlines, jumpers, and the installation of a subsea production system (SPS) in water depths in the range of 400-600m, which will be executed by the company’s FDS and Saipem 3000 vessels.

Italian contractor Saipem bags $500m worth offshore contracts. Photo courtesy of Marcuscalabresus/Wikipedia.org.

In the same region, particularly in Equatorial Guinea, Italian oilfield services contractor has also won a contract from Noble Energy for the offshore installation of a 70km gas pipeline that will connect the Alen Platform to Punta Europa on the coast.

Saipem won additional minor contracts that are related to the decommissioning of existing infrastructures in the Thistle Field of the North Sea, which will be undertaken by the Saipem 7000 vessel. The Italian oilfield services contractor also added a couple of other offshore transportation and installation contracts in the Middle East and the Gulf of Mexico.

Francesco Racheli – Saipem E&C Offshore Division COO said: “These new contract awards confirm the diversified nature of our core market segments and contribute to consolidating the historic relationship with our clients who know they can constantly rely on our support in order to pursue their safety, efficiency and reliability targets.

“A good start to the year for the E&C Offshore division and confirmation of the strategic positioning of the company in the Middle East and West Africa.”