Saipem Scores Offshore Contracts in Angola, Italy Worth $650MM

Saipem has been awarded two offshore contracts in Angola and in Italy for a total value of approximately US $650 million.

Angola

Saipem has been awarded the contract for work to be conducted for the Kizomba Satellites Project offshore Angola.

ESSO Exploration Angola (Block 15) Limited has awarded Saipem the lump sum turnkey contracts for the tieback work for the Kizomba Satellites development in Angola Block 15, approximately 145 km west of Soyo at water depths ranging from 1,000 to 1,200 meters.

Saipem will be responsible for the engineering, construction, transport and installation of pipelines, umbilicals, risers and subsea systems connecting the Mavacola and Clochas Fields to the existing FPSO units at Kizomba A and B (developments that Saipem completed similar work in the mid 2000s). Offshore operations will be carried out in 2011 by the vessels FDS and Saipem 3000. A portion of the subsea equipment will be fabricated in Angola at Saipem's Ambriz and Soyo yards.

Italy

Eni has awarded Saipem the lumpsum turnkey contract for offshore works in the Mediterranean sea.

Saipem's vessel Castoro 7 (formerly Acergy Piper), acquired at the beginning of 2009, will carry out the works, scheduled to be completed in the third quarter of 2009.
 

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