Saipem wins $550 million in offshore contracts

Saipem has won three offshore construction contracts valued at $550 million in Indonesia and the North Sea, following international tender.

In Indonesia, BP Berau Ltd., operator of the Tangguh LNG project, awarded Saipem two contracts cover engineering, procurement, fabrication, and installation of two platforms and two pipelines for the Tangguh LNG project in the Berau Bay area, Papua, about 3,000 km east of Jakarta, Indonesia. These are the first major EPIC awards for the region.

The two 20 km pipelines will connect the platforms to the LNG shore facilities. Installation and laying activities will be completed in mid 2007.

In the North Sea, Talisman Energy awarded Saipem its third contract, which is part of the development of the Tweedsmuir field, 200 km northeast of Aberdeen, Scotland. The contract comprises the laying, burying, and testing of 60 km of pipe-in-pipe line. TheCastoro Sei will carry out offshore work between 2-3Q 2006.

03/09/05