Saipem

A flurry of activity has resulted in several long-term contract extensions.

Contracts for the Uaru project’s FPSO and subsea installation were awarded to MODEC and Saipem.

The supermajor is expected to put off green-lighting the presalt project for up to 2 years.

Italian contractor will provide a pair of offshore gas compression complexes destined for the giant North Field.

The sale is subject to the closing of the acquisition by BW Energy of the 100% operating working interest in the Golfinho field from Petrobras.

The LNG project includes development of offshore gas fields in Mozambique’s Area 1 and a liquefaction plant with a capacity in excess of 12 mtpa. The gas turbines are slated for delivery in 2H 2021 and 1H 2022, and the compressors are expected in 2021.

The Búzios-5 production system is planned to include the interconnection of 15 wells to a floating production, storage, and offloading vessel in two phases.

Train 7 is scheduled for commissioning by 2024 and would bring total capacity of Nigeria LNG’s complex to 30 mtpa.

The natural gas pipeline is co-financed by the EU, with work beginning immediately.

Bloomberg reports that Saipem is seeking to bulk up and weather an industry downturn. A potential deal could create an oilfield service giant with more than $12.4 billion in revenue.