Saipem awarded EPCI contract for Petrobras’ Lula field

Saipem has won four new Engineering & Construction contracts, onshore in Saudi Arabia and offshore in Brazil, for a total amount of approximately $4 billion.

Saipem has been awarded by Saudi Aramco three contracts in Saudi Arabia for onshore engineering and construction activities.

Two EPC contracts relevant to the Jazan Integrated Gasification Combined Cycle project are to be located near the city of Jizan, in southwestern Saudi Arabia.

In Brazil, Petrobras has awarded to Saipem an EPCI contract for the Lula Norte, Lula Sul and Lula Extremo Sul Project, to be developed in the Santos Basin Pre-Salt Region, approximately 300 kilometres off the coasts of the Rio de Janeiro and São Paulo States.

The scope of work includes engineering, procurement, fabrication and installation of three offshore pipelines, with related terminations (PLETs) and Free Standing Hybrid Risers (FSHRs) for the gas export systems to be installed in the Lula field in water depths up to 2,200 meters. The marine activities will be performed mainly by the Saipem FDS2 within the first half of 2016.

Saipem will use its yard, currently under development in Guarujá for the fabrication of the Risers system and the associated Subsea equipment. The project will be delivered in the third quarter of 2016.

Umberto Vergine commenting these new contracts said: “Winning these contracts is certainly a great success for Saipem: the contracts in Saudi Arabia represent the first large onshore projects won in 2014 and confirm our competitiveness in complex onshore projects with significant technological edge. The new Lula offshore contract proves that our entry strategy and our investments to became a big player in Brazil start to pay off. In both cases we have, exactly at the right time, secured important contracts in two of our target countries, for two of our key clients. This is extremely encouraging for more success in the future.”

[mappress]

Press Release, May 07, 2014; Image: IHC EB