Saipem Wins $1 billion-plus in New Contracts

Saipem has been awarded 10 new offshore construction contracts valued in excess of US$1 billion. This work will be carried out in Southeast Asia, North Sea, Gulf of Mexico, and West Africa.

Southeast Asia
Saipem won four new contracts in Southeast Asia worth US$480 million. The first contract, EPIC, is for the laying of a 126-kilometer pipeline off the coast of Taiwan on behalf of the Taiwanese National Oil Co.. The second contract (EPIC) is for the laying of a 90-kilometer pipeline in the Gulf of Thailand on behalf of the Petroleum Authority of Thailand (PTT). The third contract (EPIC) is for the laying of a 50-kilometer pipeline in the area between Malaysia and Thailand on behalf of Trans Thai-Malaysia (TTM). The fourth contract is for the installation of 3 platforms and the laying of 36 kilometers of pipelines also in the area between Malaysia and Thailand on behalf of the Kencana HL

. North Sea and Gulf of Mexico
Saipemís four new contracts in the North Atlantic and another in the Gulf of Mexico are worth a total of US$380 million.

The first contract (EPIC) signed with Total E&P UK is for the replacement of the existing 20-kilometer pipeline connecting the Dunbar and Alwyn platforms, located 150 kilometers North-East of Aberdeen in the North Sea. The work will be carried out by Castoro Sei in the third and the fourth quarter of 2007.

The second contract is for the laying of a 30-kilometer pipeline in the North Sea as part of the development of the Halfdan field on behalf of Maersk Oil OG Gas. The work will be carried out by vessel Castoro Sei in the third and the fourth quarter of 2007.

The third contract in the North Sea has been awarded by the oil company Nexen and is for the subsea development of the Ettrick field. Work will be carried out in the second and the third quarter of 2007. The fourth contract is on behalf of Total Norge E&P AS and is for the decommissioning of sealines associated with the central complex of the Frigg field, located 230 kilometers north west of Stavanger, Norway.

Saipem was also awarded a contract by Devon Energy to decommission three platforms in the Gulf of Mexico that were damaged by the Hurricane Rita. Work will begin in August 2006 and will be carried out by vessel S355.

West Africa
Eni has awarded Saipem the contract for the engineering, procurement, construction and installation of a platform and associated pipelines for the development of the Awa Paloukou field, located off the coast of the Republic of Congo. The platform will be constructed at the Intermare Sarda fabrication yard in Sardinia, and subsequently installed by vessel Saipem 3000 in the summer of 2007.

Related Companies
 Company: Nexen, Inc.more info

 - CNOOC Cutbacks at Long Lake Oil Sands Site Caps Years of Trouble (Jul 14)
 - Sources: Nexen Issues Force Majeure for May Canadian Crude (May 12)
 - Canada's Oil Output Spared Fire Damage Seen Able to Rebound (May 9)
 Company: Total S.A.more info
 - Total Beats Q3 Expectations Helped By New Projects, Cost Cuts (Oct 28)
 - Airport Staff Involved In Total CEO Plane Crash Had Been Drinking (Oct 25)
 - Total Says Brazil Libra NW Prospect Holds 3-4 bln Barrels of Oil (Sep 29)
 Company: ENImore info

 - Italy's Eni Confirms Targets After Worse Than Forecast Loss (Oct 28)
 - ENI: FPSO Soon Ready to Start Work at East Hub Development Project (Oct 14)
 - Mozambique Minister's Sacking Will Not Affect Gas Project Decision (Sep 30)
 Company: Devon Energymore info
 - E&P Companies Target Potential of STACK, SCOOP Plays (Aug 25)
 - US Frackers Surprise Themselves As Tweaks Keep Adding Barrels (Aug 3)
 - Devon Energy Posts Surprising Adjusted Profit On Cost Cuts (Aug 2)
 Company: Saipemmore info

 - Saipem Shares Up on Report Seadrill May Buy Offshore Arm (Nov 18)
 - The Sour Gas Eating Kashagan Oil Profits (Nov 15)
 - At Least One Worker Injured in Scarabeo-5 Fire (Sep 20)
 Company: Maersk Oil & Gasmore info
 - Maersk Oil Begins Culzean Drilling Campaign (Sep 29)
 - Maersk Oil To Focus On North Sea, Kenya After Qatar Contract Loss (Jun 28)
 - Loss of Qatari Oil Contract Piles Pressure on Maersk Profits (Jun 28)
 Company: PTT Public Co., Ltd.more info
 - Sources: BP Sells U.S. Crude Oil to Thailand, Australia for First Time (Oct 26)
 - Thailand Embarking On LNG Shopping Spree As Glut Depresses Price (Aug 25)
 - Thailand's PTT To Boost LNG Imports In 2017 As Local Fields Fade (Aug 18)
 Company: Intermare Sardamore info
 - Saipem Wins $1 billion-plus in New Contracts (Jun 14)
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Operational Specialist - New Fairview, TX
Expertise: Field Service Tech
Location: Fairview, TX
Field Engineer-Wireline
Expertise: Drilling Foreman / Drilling Supervisor|Perforation
Location: Odessa, TX
Wireline Operator
Expertise: Drilling Foreman / Drilling Supervisor|Wireline
Location: Williston, ND
search for more jobs

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours