Saipem Bags $325MM Petrobras Contract

Saipem Bags $325MM Petrobras Contract
Saipem revealed on Monday that it has been awarded a contract by Petrobras worth approximately $325 million.

Saipem S.p.A. revealed on Monday that it has been awarded a contract by Petroleo Brasileiro S.A. (Petrobras) worth approximately $325 million.

The contract is for the installation of a rigid riser-based subsea system to serve the Buzios pre-salt project, Saipem noted. The scope of work under the contract includes the engineering, procurement, construction and installation of steel lazy wave risers and associated flowlines between 15 wells to an FPSO.

“Buzios is one of the world’s largest deepwater oil fields and it is very important for Saipem to contribute to such a significant project for Brazil, a country in which we have a long-established presence and track record of successfully-executed projects,” Francesco Racheli, the chief operating officer of Saipem’s E&C Offshore Division, said in a company statement which was sent to Rigzone on Monday.

“This new acquisition efficiently combines in-house capabilities and appropriate assets to carry out this ambitious endeavour and reinforces our reputation as a global provider of valuable solutions in a country offering great opportunities,” he added in the statement.

“We look forward to working alongside Petrobras to further develop Brazil’s resources and ensure the safe and timely achievement of the field’s full production output,” the Saipem representative continued.

Back in May this year, Saipem signed a two year frame agreement with Equinor covering engineering services worldwide. In February, the company signed a memorandum of understanding with Saudi construction company Abdel Hadi Abdullah Al Qahtani & Sons Company. Saipem did not disclose the value of either contract.

Saipem describes itself as a leading company in the engineering, drilling and construction of major projects in the energy and infrastructure sectors. Listed on the Milan Stock Exchange, the business is present in more than 70 countries worldwide and has 35,000 employees, according to its website.

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