Delays impact Saipem offshore pipelay programs

Saipem says the productivity of its new flagship pipelay vessel Castorone will be below expectations in 2013.

Offshore staff

SAN DONATO MILANESE, Italy – Saipem says the productivity of its new flagship pipelay vessel Castorone will be below expectations in 2013.

This follows longer-than-anticipated sea trials which overran by a fortnight, and resolution of technical issues that came to light during the trials.

In addition, a project related to construction of a new vessel, which was due to be delivered this month to the client, has incurred additional costs. One reason is the extra work required as a result of faulty equipment delivered to Saipem, which has had to be returned to suppliers for replacement.

6/17/2013

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