Eni awards Saipem $1.5-billion FPSO contract

Eni has awarded Saipem a $1.5-billion contract for the supply and operation of an FPSO vessel.

Offshore staff

MILAN-- Eni has awarded Saipem a $1.5-billion contract for the supply and operation of an FPSO vessel.

Under the 20-year contract, Saipem will provide FPSO installation and operation management. The vessel will have a storage capacity of 700,000 b/d and a production capacity of 12,000 b/d of oil. Production activities will start in 4Q 2011.

For the first eight years of the contract, the FPSO will be installed on the Aquila field in the Adriatic Sea. During the remaining years, the FPSO will relocate to another client-designated field.

11/25/2009

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