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 Saipem’s 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.
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.
- Alberta Regulators Charge Nexen Energy Over 2015 Pipeline Spill (Jul 06)
- Cenovus Drops Most Ever as $13.3 Billion Deal Ramps Up Risks (Mar 30)
- UKCS Oil, Gas Extraction Drops 10% (Dec 08)
Company: Total S.A. more info
- Oil CEOs Jostle for Global Natgas Crown Under Putin's Gaze (Oct 04)
- Uganda Expects to Miss Target for First Oil (Sep 24)
- Total Joins Tullow-operated Block Offshore Guyana (Sep 13)
Company: ENI more info
- Offshore Mozambique Block Goes to Eni (Oct 17)
- Offshore Mexico FPSO Contract Goes to Modec (Oct 12)
- Eni Makes New Gas Discovery in Egypt (Aug 30)
Company: Devon Energy more info
- Permian Auction Doubles 2008 Record with near Billion-Dollar Sale (Sep 07)
- Shale Companies Sink On Investor Disappointment, Hedging Losses (Aug 01)
- Devon Energy Plans to Lay Off 9 Percent of Staff to Boost Returns (Apr 10)
Company: Saipem more info
- Saipem-led JV Wins Contract for LNG Project in Nigeria (Jul 13)
- Three Drilling Contractors Advance in Rigzone Employer Survey (May 24)
- Saipem Scouting Around as Subsea 7 Bid Makes Waves (Apr 24)
Company: Maersk Oil & Gas more info
- Shell Names Former Maersk Oil CEO Watkins As Next US Boss (Mar 27)
- Maersk Energy Sees Uptick In Offshore Oil Drilling, Profit Still Squeezed (Feb 20)
- Maersk Oil CEO To Step Down After Total Takeover (Sep 27)
Company: PTT Public Co., Ltd. more info
- Thai Energy Giant PTT FY Profit Up 43% At $4.3B, Beats (Feb 20)
- Thai PTTGC And Japanese Partners In $900MM Chemical Venture (Aug 25)
- Sources: BP Sells US Crude Oil to Thailand, Australia for First Time (Oct 26)
Company: Intermare Sarda more info
- Saipem Wins $1 billion-plus in New Contracts (Jun 14)