Saipem to bag nearly $1 bln from two new deals in Ivory Coast
Italian oilfield services provider Saipem has been awarded two new contracts in Ivory Coast worth approximately €1 billion euros (around $956 million) overall.
The contracts have been assigned by the ENI Cote d’Ivoire-Petroci consortium for the Baleine Phase 1 Project, for the development of the relative oil and gas field offshore Ivory Coast located at a 1,200m water depth.
According to Saipem, the Baleine Prospect represents the largest commercial discovery in the country in the last 20 years and it will contribute to energy production in Ivory Coast, strengthening the country’s role as a regional energy hub. Saipem contributed to the discovery of the field thanks to the drilling activities of the Saipem 10000 and Saipem 12000 vessels.
The Baleine East 1X well was drilled using the Saipem 12000 drillship. The well reached its final depth of 3,165 m measured depth, in a water depth of about 1,150 m.
The first contract entails Engineering, Procurement, Construction and Installation (EPCI) activities of Subsea Umbilicals, Risers and Flowlines (SURF) and of an onshore gas pipeline for the connection to the distribution grid.
The offshore laying of flexible lines, risers and umbilicals will be executed by Saipem’s flagship vessel FDS2 and the development of the project will be on a fast-track basis. The start of operations is planned for the fourth quarter of 2022.
Eni said in late July that the accelerated schedule will see the project produce the first oil in the first half of 2023 – about a year and a half from the Baleine 1X discovery well.
The second contract – also developed with a fast-track schedule – encompasses Engineering, Procurement, Construction and Commissioning activities regarding the refurbishment of the Firenze FPSO vessel, plus 10 years of Operations and Maintenance services of the vessel.
Saipem noted that these contracts consolidate its strategic positioning in West Africa.