Saipem secures €850m offshore contracts in Côte d’Ivoire and Italy

Italian oilfield services company Saipem has clinched two new offshore contracts worth a staggering €850 million. The energy services company has been awarded contracts in both Côte d’Ivoire and Italy, reinforcing its presence in these critical markets. The lucrative deals involve expansive Subsea Umbilicals, Risers and Flowlines (SURF) projects and Floating Storage and Regasification Unit (FSRU) facilities.

Multi-Million Euro Contract for Baleine Phase 2 in Côte d’Ivoire

The first contract, granted to Saipem by Eni Côte d’Ivoire and its partner Petroci, focuses on the Baleine Phase 2 oil and gas field located offshore in Côte d’Ivoire. The project involves Subsea Umbilicals, Risers and Flowlines (SURF) and is set at a water depth of 1,200 meters. The contract encompasses Engineering, Procurement, Construction, and Installation (EPCI) of roughly 20 km of rigid lines, 10 km of flexible risers and jumpers, and 15 km of umbilicals. Saipem’s top-notch offshore construction vessels will execute the installation works in 2024. This new contract cements Saipem’s significant contribution to the Baleine field and enhances its foothold in Côte d’Ivoire.

Expanding Operations in Italy with New FSRU Contract

The second contract has been awarded to Saipem, in collaboration with Rosetti Marino and Micoperi, by Snam Rete Gas. The project is based in the Adriatic Sea offshore Ravenna, Italy and involves the construction of new Floating Storage and Regasification Unit (FSRU) facilities. The Engineering, Procurement, Construction, and Installation (EPCI) contract includes the construction of a new offshore facility linked to the existing one. This FSRU will be connected to the shore via an 8.5 km offshore pipeline and a 2.6 km onshore pipeline, along with a parallel fiber optic cable. Saipem’s pipelay barge Castoro 10 will execute offshore operations.

Boost to Italy’s Energy Security and Environmental Consideration

The new FSRU project will significantly increase Italy’s LNG import capacity, bolstering the nation’s energy security through the diversification of gas sources. Notably, the project includes an environmental-friendly approach, utilizing a microtunneling system for shore crossing to minimize environmental impacts.

Strengthening Saipem’s Global Footprint

These new contracts highlight Saipem’s growing influence in both Côte d’Ivoire and Italy, reinforcing its reputation as a leader in offshore activities. Saipem previously contributed to Baleine Phase 1 drilling with Saipem 10000 and Saipem 12000 vessels, and executed two fast-track contracts for the same phase. With these new contracts, Saipem continues to strategically expand its global footprint and fortify its presence in key markets.