Saipem Wins US $550 Million in Offshore Contracts

Saipem has been awarded three offshore construction contracts valued at US $550 million in Indonesia and the North Sea, following international tender.

Indonesia

Two contracts cover engineering, procurement, fabrication and installation of two platforms and two pipelines for the Tangguh Liquefied Natural Gas (LNG) project, in the Berau Bay area, Papua, about 3,000 kilometers east of Jakarta, Indonesia.

The two 20 kilometers pipelines will connect the platforms to the LNG shore facilities. Installation and laying activities are scheduled to be completed in mid 2007.

The contracts have been awarded by BP Berau Ltd, operator of the Tangguh LNG Project, and are the first major EPIC awards for the region.

North Sea

The third contract has been awarded by Talisman Energy, as part of the development of the Tweedsmuir field, located 200 km northeast of Aberdeen, Scotland, and comprises the laying, burial and testing of approximately 60 kilometers of pipe in pipe line. Offshore works will be carried out mainly by the vessel Castoro Sei between second and third quarter 2006.

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