Saipem Awards SPM Contract to Bluewater

Bluewater Energy Services B.V.

Bluewater Energy Services B.V. has been awarded a contract by Saipem Malaysia Sdn. Bhd. for the delivery of an SPM Buoy system. The system will be installed in a water depth of approximately 30 meters approximately 200 km southeast of Bangkok.

ThaiOil, one of the largest and most complex refineries in Asia Pacific with a capacity of 220,000 barrels per day, will own and operate the system offloading VLCC size tankers supplying oil to its refinery in Sri-Racha.

Bluewater's scope of supply for the system includes the design, procurement and fabrication of a Turret catenary anchor leg mooring (CALM) buoy including pipeline end manifold (PLEM), hoses, and mooring system. The delivery of the system is expected to take place in the first quarter 2007.

Bluewater Energy Services B.V., a member of the Bluewater group of companies, has built a technological lead specializing in lease and operation of tanker-based Production and Storage (FPSO/FSO) systems, and has become a leading provider of advanced Single Point Mooring (SPM) systems. Bluewater operates worldwide with offices in The Netherlands, United Kingdom, United States, Nigeria, Angola, South Africa, Singapore, and China.