Saipem Wins Two Offshore Contracts Valued at US $230 Million

The first contract has been awarded by Norsk Hydro following an international tender for the deep water section of Ormen Lange gas field development, located in the North Sea, 100 kilometers off Norway’s coast. The contract involves transport and installation of two pipelines, each with a length of 21 kilometers. The installation will be performed mainly by the vessel Saipem 7000 in J-lay mode in up to 900 meters water depth during summer 2006. The project is particularly challenging due to weather condition and seabed topography with steep slopes making installation tolerances extremely tight.

The second contract has been awarded by the Hongkong Electric Company Limited following an international tender for the construction of a submarine gas pipeline from the Guangdong LNG terminal located at Shenzhen (People's Republic of China) to Lamma island of the Hong Kong SAR. The scope of work includes detailed engineering, procurement, transport and installation of a 92-kilometres submarine pipeline, that will be installed during the first half of 2005 by the vessel Castoro 2.