Two new contracts reel in $850 million for Saipem
Italian oilfield services provider Saipem has secured two new offshore contracts with an overall value of approximately $850 million.
Saipem has been awarded an engineering, procurement, construction and installation (EPCI) contract by Turkish Petroleum OTC for the second phase of the Sakarya FEED and EPCI Project.
This entails the EPCI of a 16” pipeline, 175 kilometers long, at a 2,200-meter water depth, in the Turkish Black Sea waters. Offshore operations will begin in the summer of 2024 and will be conducted by Saipem’s vessel Castorone.
Saipem recently completed the first phase of the Sakarya Gas Field Development project, awarded by Turkish Petroleum OTC in 2021.
The other contract was awarded by EnQuest Heather for the decommissioning of the existing Thistle A Platform in the UK sector of the North Sea, around 510 kilometers northeast of Aberdeen, in a water depth of 162 meters.
Saipem’s activities include the engineering, preparation, removal, and disposal of the jacket and topsides, with possible extension to further subsea facilities. The activities will be carried out by the Saipem 7000 semi-submersible heavy-lifting vessel.
“These important awards demonstrate Saipem’s excellent competitive positioning in the Offshore Engineering & Construction market, a sector that is experiencing a full expansion momentum of which Saipem is ready to seize the opportunities,” said Fabrizio Botta, Saipem’s Chief Commercial Officer.
“The contract awarded in the Black Sea is a confirmation of Saipem’s prominent positioning and of its long-standing relationships with clients. The North Sea contract, finally, is a further example of Saipem’s capabilities in a segment where the combination of innovative engineering, unique assets and safe operations is crucial.”
Last month, Saipem secured three new offshore EPCI contracts and two front-end engineering design (FEED) competition deals, totaling approximately $650 million.
Most recently, the Italian oilfield services provider was awarded a two-year extension by Eni for one of its drillships, which is currently working in the U.S. Gulf of Mexico.