Saipem Awarded Two Offshore Contracts Worth US $230 million

Saipem has been awarded two new offshore contracts in Kazakhstan and Egypt worth a total value of US $230 million.

Agip KCO awarded the Saipem and Aker Kvaerner unincorporated consortium a contract as part of the experimental program of the Kashagan field development in the Caspian Sea. The contract includes early work activities for the hook-up and commissioning of the offshore facilities as well as for the inshore completion to be executed in the Kuryk yard. The scope of work also includes the procurement, refurbishment and preparation of five barges which will be converted into temporary living quarters and offices, as well as temporary barges for power generation, tool sheds and warehouses.

Petrobel has awarded the Saipem and PMS consortium the contract for the laying of a 32" pipeline connecting the El-Gamil gas processing plant with an existing platform located in the Denise Pliocene gas field. The field is located 60 kilometers off the coast of Egypt in water depths of up to 85 meters. Saipem's scope of work includes engineering, project management, transportation and installation of the sealine and pre-commissioning. The marine activities will be carried out by Crawler vessel in the second half of 2007.