Saipem to suspend work on South Stream project

Saipem says it has received a "notification of suspension of marine spread activities" on its South Stream project from the client. The notification covers all vessels currently engaged in activities related to pipelaying.

Offshore staff

SAN DONATO MILANESE, ItalySaipem says it has received a "notification of suspension of marine spread activities" on its South Stream project from the client. The notification covers all vessels currently engaged in activities related to pipelaying.

The company notes that, at present, it is not possible to determine the economic impact of the suspension on Saipem’s business, as both the duration of the suspension and the client’s ultimate decision on the project are unknown.

12/05/2014

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