Saipem Secures a Pair of Contracts for $850 Million
The contracts are for work in the Black Sea and North Sea.
Saipem announced on 18 May that it has secured two new offshore contracts with an overall value of about $850 million.
Turkish Petroleum Offshore Technology Center (OTC) awarded the Italian contractor an engineering, procurement, construction, and installation (EPCI) contract for the second phase of the Sakarya FEED and EPCI Project.
The work entails the EPCI of a 175-km-long, 16-in. pipeline at a 2,200-m water depth in the Turkish Black Sea. The offshore operations are to begin in summer 2024 and will be conducted by Saipem’s flagship vessel Castorone.
Saipem recently completed the first phase of the Sakarya Gas Field Development project that was awarded by Turkish Petroleum OTC in 2021.
EnQuest Heather awarded the second contract to Saipem for the decommissioning of the existing Thistle A Platform in the UK sector of the North Sea, about 510 km northeast of Aberdeen in a water depth of 162 m.
Saipem’s work for the project includes the engineering, preparation, removal, and disposal of the jacket and topsides, with possible extension to further subsea facilities. The activities will be carried out by the Saipem 7000 semisubmersible heavy-lifting vessel.
“These important awards demonstrate Saipem's excellent competitive positioning in the offshore engineering and construction market, a sector that is experiencing a full expansion momentum of which Saipem is ready to seize the opportunities,” said Fabrizio Botta, chief commercial officer for Saipem.
“The contract awarded in the Black Sea is a confirmation of Saipem’s prominent positioning and of its longstanding relationships with clients. The North Sea contract, finally, is a further example of Saipem's capabilities in a segment where the combination of innovative engineering, unique assets, and safe operations is crucial," he said.
Saipem recently received the authorization to proceed with the final phase of a contract for work on the $12.7 billion Uaru development offshore Guyana operated by an ExxonMobil-led consortium. The contractor in March secured a contract from Azule Energy to supply the rigid flowlines and subsea structure transportation and installation for the Agogo full-field development offshore Angola.