Saipem has secured a pair of offshore contracts with a combined value of about $850 million.
One contract is for an Engineering, Procurement, Construction and Installation (EPCI) project in the Black Sea, while the other is for decommissioning activities in the North Sea.
Saipem said the first contract has been awarded by Turkish Petroleum OTC for the second phase of the Sakarya FEED and EPCI project and involves the engineering, procurement, construction and installation of a 16”, 175 km (109 miles) long, in 2,200-meter (7,200-foot) water depth, in the Turkish waters of the Black Sea.
Offshore operations will begin in the summer of 2024 and will be led by Saipem’s flagship Castorone. Saipem recently successfully completed the first phase of the Sakarya gas field development project, awarded by Turkish Petroleum OTC in 2021.
The contract involved the transportation and installation of pipelines up to a depth of 7,200 feet. Offshore operations began in the spring of 2022 and were mainly carried out by the vessel Castorone.
The second contract, recently awarded, has been awarded by EnQuest Heather Limited for the decommissioning of the existing Thistle A platform, located in the UK sector of the North Sea, approximately 510 kilometers (317 miles) northeast of Aberdeen, in a water depth of 162. meters (531 feet).
Saipem noted in its statement that its activities involve the engineering, preparation, removal and disposal of the jacket and upper parts, with possible expansion to more subsea facilities. The activities will be carried out by the Saipem 7000, one of the largest semi-submersible heavy lift vessels in the world.
“These important awards demonstrate the excellent competitive positioning of Saipem in the offshore engineering and construction market, a sector that is experiencing a rate of full expansion of which Saipem is ready to take advantage of the opportunities. The contract awarded in the Black Sea is a confirmation of Saipem’s prominent position and its long relationship with customers. The North Sea contract is finally another example of Saipem’s capabilities in a segment where the combination of innovative engineering, unique assets and safe operations is crucial,” commented Fabrizio Botta, Saipem’s Commercial Director.
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