Saipem Gets $900MM Deal On Angolan Non-Associated Gas Project

Saipem Gets $900MM Deal On Angolan Non-Associated Gas Project
Saipem has secured three new engineering and construction contracts, one onshore and two offshore Angola.

Italian oilfield services firm Saipem has secured three new engineering and construction contracts, one onshore and two offshore Angola.

Saipem said that the contracts were with the New Gas Consortium comprised of Azule Energy – a JV recently formed by BP and Eni, Sonangol, Chevron, and TotalEnergies, which recently reached a final investment decision for the Quiluma and Maboqueiro gas project. It is worth noting that it is the first non-associated gas project in Angola.

With an overall value of around $900 million, Saipem is taking care of the engineering, procurement, and construction, including hook-up and commissioning assistance of the Quiluma platform and the relevant onshore natural gas processing plant.

The company added that this was a confirmation of the customers’ trust in Saipem for the execution of complex projects both in terms of technology and logistics, carried out in line with local content and with the highest environmental sustainability standards.

Saipem pointed out that this was an especially important project as it was the first non-associated gas project carried out in Angola.

The participation in the said development initiatives in the Lower Congo Basin, which will provide the Angola LNG plant with additional gas volumes for both international and domestic markets, consolidates Saipem's strategic positioning in West Africa and in Angola, where the company has been working for over 40 years.

As for the Quiluma and Maboqueiro project, Eni as the operator holds a 25.6 percent stake, Chevron affiliate CABGOC holds 31 percent, Sonangol has 19.8 percent, while BP and TotalEnergies hold 11.8 percent stakes each.

The project includes two offshore wellhead platforms, an onshore gas processing plant, and a connection to the Angola LNG plant for the marketing of condensates and gas via LNG cargoes. Project execution activities will start in 2022 with a first gas planned in 2026 and an expected production of 330 mmscf/day at plateau.

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