Saipem Completes Sale of Firenze FPSO to Eni

Saipem announces 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.

As announced on December 11th, the Board of Directors of Saipem S.p.A. has approved the signing of an agreement with Eni for the sale of the Firenze FPSO (Floating Production Storage and Offloading) business line for €336 million ($463 million).

Firenze FPSO unit is 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.

Saipem, Decembar 30, 2013