Eni Completes Acquistion of Firenze FPSO

Saipem today announced that, following the sale of the entire share capital of the company Floaters S.p.A. to Eni, it has now completed the sale to Eni of Firenze FPSO, as notified to the market on 11 and 12 December 2013. The value of the agreement is around $463 million.

Under the deal, Eni has acquired the Firenze FPSO unit, currently deployed in the Eni-operated Aquila field off the coast of Puglia, together with the on-board processing plant.

The sale also includes existing related contracts, including those in place with production and vessel operations personnel. The contract signed with Eni in 2009 provided for the option to purchase the vessel Firenze FPSO alone subsequent to the conversion and commissioning of the vessel, which was completed at the end of last year.

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Offshore Energy Today Staff, December 30, 2013