Saipem awarded additional Offshore E&C works, and new Offshore Drilling and Onshore Drilling contracts worth overall approximately 380 million USD

BusinessSan Donato Milanese

San Donato Milanese (Milan), December 22, 2017 – Saipem has signed a contract with Eni Angola S.p.A. in relation to the West Hub Development project in Angola, which incorporates the work orders previously assigned and communicated in 2016 and 2017 and adds the scope of work for the development of the Vandumbu field in Block 15/06.

The additional activities will be carried out by the Offshore E&C division and encompass the engineering, procurement, construction and installation required for the development of the Vandumbu subseea field at deepwater depths ranging from 1300 to 1500 metres. Overall the project includes the realisation of two production pipelines made of special material, and the laying of umbilicals and service lines of various diameters (Subsea, Umbilicals, Risers & Flowlines - SURF).

In addition, Saipem has been awarded a new contract in the Gulf of Mexico involving the Transportation & Installation of the compression platform CA-KU-A1 on behalf of Dragados Offshore de Mexico S.A. de C.V. (DOMSA). Operations will be carried out by the semi-submersible vessel Saipem 7000.

Furthermore, Saipem has been awarded new contracts in Offshore Drilling, in two areas of primary interest for the company. A/S Norske Shell has assigned the drilling of one well, plus an optional well, offshore Norway. Drilling works will be carried out by the 6th generation semi-submersible Scarabeo 8, commencing in the second quarter of 2018 and lasting 2 months.

In the Arabian Gulf, Saipem will carry out drilling activities for the National Drilling Company (NDC) using the high specs jack-up Perro Negro 8 for a period of ten months beginning in late 2017.

Finally, Saipem has obtained contracts also in Onshore Drilling, in Kazakhstan, Romania, Argentina and Bolivia, thereby consolidating its geographical diversification in this sector of activity.

The combined value of the above contracts is approximately 380 million USD.

 

Saipem is one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil & gas market. The company has distinctive competences in operations in harsh environments, remote areas and deepwater. Saipem provides a full range of services with “EPC” and “EPCI” contracts (on a “turn-key” basis) and has distinctive capabilities and unique assets with a high technological content.

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