Saipem Wins $520 Offshore Contracts in Congo, Indonesia

Reuters

MILAN, Feb 24 (Reuters) – Saipem has won new contracts for offshore engineering and construction in Congo and Indonesia worth a total $520 million, the Italian oil services group said on Monday.

Saipem said parent company ENI had assigned a consortium led by Saipem a $1.1 billion contract to build a floating production unit (FPU) in Indonesia.

"The FPU will be delivered at site ready for surf hook-up in 34 months," Saipem said in a note.

In Congo, the group won a contract with Aker Solutions to build under-sea structures, including suction anchors, for the Moho project.

By 0912 GMT shares in Saipem rose 0.65 percent against a 0.1 percent rise in Italy's FTSE MIB leading stock index.

(Reporting by Valentina Za; Editing by Lisa Jucca)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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