Saipem: received notification of termination for convenience of the South Stream BV contract

The termination for convenience is a standard contractual clause which provides for the termination of the agreement in the absence of a contractual breach, with compensation determined in accordance with the terms and conditions of the contract. 

Saipem confirms that the pipelaying vessel Castoro 6 was in the process of mooring in Russian waters to start pipelaying activities. 

Saipem operates in the Engineering & Construction and Drilling businesses, with a strong bias towards oil & gas-related activities in remote areas and deep-waters. Saipem is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and execution of large-scale offshore and onshore projects, and technological competences such as gas monetization and heavy oil exploitation.

Website: www.saipem.com
Switchboard: +39 0244231 

Media relations
Tel: +39 0244234088;
E-mail: media.relations@saipem.com 

iCorporate press office
Tel: +39 024678752; Mobile: +39 3669134595;
E-mail: saipem@icorporate.it 

Relations with institutional investors and financial analysts
Tel: +39 0244234653; Fax: +39 0244254295;
E-mail: investor.relations@saipem.com 

Contact point for retail investors  
E-mail: segreteria.societaria@saipem.com