Half a billion worth of contracts for Saipem

Italy’s Saipem has won new Engineering & Construction offshore contracts in Indonesia and in the Republic of Congo, for a total amount of approximately $520 million.

In Indonesia, Eni has awarded a consortium led by Saipem the EPCI contract for a new built barge Floating Production Unit (FPU) for the Jangkrik Complex Project development.

The consortium is formed by Hyundai Heavy Industries Ltd (HHI) and the joint venture between Saipem, Tripatra Engineers & Constructors and Chiyoda. The total contract value for the project is $1.1 billion.

The new build spread-moored FPU will have a treating capacity of 450MMSCFD of gas plus condensates and the scope of work includes engineering, procurement, fabrication of the FPU and the installation of a mooring system as well as hook-up, commissioning and assistance to the start-up.

The Jangkrik FPU project will be carried out from the Saipem Execution Centre in Jakarta. The topsides fabrication activities will be carried out in Saipem’s Karimun Island Yard, also located in Indonesia, while the hull will be fabricated in HHI’s offshore yard in Ulsan in South Korea. The FPU will be delivered at site ready for surf hook-up in 34 months.

This contract is in line with Saipem’s strategy of growth in particular in the Floaters construction in specific geographic areas, such as Asia Pacific and Africa, where the company can leverage on its local well established and unique availability of fabrication yards.

Asia Pacific represents an important and strategic area of development for Saipem: the company is currently involved in technically complex projects in the area related to various FLNG initiatives.

In the Republic of Congo, Saipem has been awarded a contract by Aker Solutions for the fabrication of subsea structures, including suction anchors, for the Moho project. This project will utilize local fabrication capabilities that Saipem has developed over the years with its Boscongo Yard in Pointe Noire, in line with its proven strategy of maximizing local content.

Press Release, February 24, 2014