Saipem awarded contracts totaling $1.1 billion

Saipem has won three new contracts totaling more than $1.1 billion.

Offshore staff

MILAN -- Saipem has won three new contracts totaling more than $1.1 billion. The contracts cover projects offshore Azerbaijan, Brazil, and Venezuela.

Azerbaijan
BP Exploration has awarded Saipem an underwater service contract for the inspection, maintenance, and repair of facilities in the Azeri offshore. The five-year contract has an optional two-year extension.

Brazil
Petrobras has awarded Saipem a contract for the Uruguà-Mexilhão pipeline. Saipem will transport, install, and test a 18-in. (46-cm), 174-km (108-mi) gas pipeline in the Santos basin, offshore Brazil. The pipeline will link the FPSO Cidade de Santos, located in the Uruguá field, to the Mexilhão gas platform in the Mexilhão field. Project activities are scheduled to finish by the end of March 2010, the company says.

Venezuela
PDVSA Gas has awarded Saipem the contract for the Dragon – CIGMA pipeline in the Mariscal Sucre complex offshore northeast Venezuela. Saipem will transport and install a 36-in. (91-cm), 115-km (71 mi) gas export line connecting a platform in the Dragon field to PDVSA's CIGMA complex on the southern side of the Paria peninsula. Marine activities will be mainly carried out by the pipelay vessel Semac and are scheduled for completion by the end of 2009, the company says.

10/29/2008

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