Saipem awarded contracts with Eni, bp worth about $700M

Aug. 10, 2023
Saipem has been awarded two new contracts, the first by Eni Congo and the other by bp, for a total value of about $700 million.

Offshore staff

MILAN – Saipem has been awarded two new contracts, the first by Eni Congo and the other by bp, for a total value of about $700 million.

The first contract has been awarded to Saipem by Eni Congo for the conversion of the Scarabeo 5 semisubmersible drilling unit into a separation and boosting plant (FPU).

The FPU is a semisubmersible production platform that receives the production fluids from wellheads riser platforms, separate the gas from liquids and boosts the gas to feed the nearby FLNG unit.

The contract, subsequent to an agreement signed early this year for the execution of preliminary engineering and procurement activities, entails the engineering, procurement, construction, transportation and commissioning of the FPU, to be installed offshore the coast of the Republic of Congo, located northwest of the Djeno Terminal, in a depth of about 35 m. The commissioning offshore works and the startup of the FPU are scheduled by fourth-quarter 2025.

This contract awarded to Saipem is part of Eni’s Congo LNG Project, the country's first natural gas liquefaction project that is expected to reach an overall LNG production capacity of 3 MM tons per year (about 4.5 Bcm/year) from 2025.

In addition, Saipem has been awarded a contract by bp for offshore activities in the Gulf of Mexico (GoM). The contract is related to the Argos FPU, a facility designed for oil and gas production in deepwater environments. The Argos FPU is located in the Green Canyon Block 780 in about 1,400 m water depth.

The Saipem Constellation vessel will carry out the marine activities required for the project, which will be managed by Saipem's execution center in Houston, a hub for the company's activities in the region. This will be the first project involving the deployment of the Saipem Constellation in the GoM.

08.10.2023