Saipem Lands $425 Million in New Contracts



Saipem has been awarded three new EPC contracts worth US $425 million for onshore construction in Canada and Saudi Arabia.

Canada

Saipem, in general partnership with the Canadian company SNC-Lavalin Inc., has been awarded by Canaport LNG Limited Partnership the EPC contract for the design, engineering, construction, testing, commissioning, start up and initial operation of the Canaport LNG receiving terminal. Located at Saint-John, New Brunswick, Canada, the terminal is designed to produce 1.000 MMSCF of natural gas and comprises unloading facilities for LNG carriers, LNG pumping and vaporizing facilities, gas send out facilities and two 160,000 cubic meters LNG storage tanks.

The terminal is scheduled to enter into operation in the fourth quarter of 2008.

Saudi Arabia

Saipem has been awarded two turnkey EPC contracts for the seawater supply pipeline system feeding the injection for Khurais and Ghawar fields, about 150 km east of Riyadh, Saudi Arabia. The work, awarded by Saudi Aramco, encompasses engineering, procurement, construction and commissioning for a total of 430 km of onshore pipelines, crossing a combination of sandy, sabkha and rocky areas. The completion of activities is expected in the second half of 2008.

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