Saipem revealed this week that it has won three new deals worth about $1.7 billion.
In a statement sent to Rigzone late Thursday, the company said it has been awarded two new contracts worth a total of about $700 million.
Eni Congo awarded a contract to Saipem for the conversion of the semi-submersible drilling unit Scarabeo 5 into a separation and propulsion plant (Floating Production Unit – FPU), Saipem explained in the statement. The company noted that the FPU is a semi-submersible production platform that receives production fluids from upstream wellhead platforms, separates gas from liquids and boosts the gas to feed the nearby floating LNG (FLNG) unit.
Saipem emphasized in the statement that the agreement follows an agreement signed earlier this year for the execution of preliminary engineering and procurement activities. The contract includes the engineering, procurement, construction, transportation and commissioning of the FPU, according to Saipem, which said in the statement that the commissioning of the offshore works and the commissioning of the FPU are planned for the fourth quarter of 2025.
“This contract awarded to Saipem is part of Eni’s Congo LNG project, the country’s first natural gas liquefaction project that is expected to achieve a global liquefied natural gas production capacity of three million tons per year (approximately 4.5 billion of cubic meters/year) starting in 2025,” Saipem said in the statement.
In a statement published on its website in April, Eni announced the inauguration of the Congo LNG project. The company noted at the time that Congo LNG will “exploit Marine XII’s enormous gas resources.”
Saipem revealed in its statement that the other contract was awarded by BP for offshore activities in the Gulf of Mexico. The contract relates to the FPU Argos, which Saipem described as “a state-of-the-art facility designed for oil and gas production in deepwater environments”.
The Saipem Constellation vessel will carry out the marine activities required for the project, which will be managed by Saipem’s execution center in Houston, Saipem said in the statement.
“This contract represents an important milestone as it will be the first project involving the deployment of Saipem’s constellation in the Gulf of Mexico and follows a series of awards for projects in Australia and Guyana,” Saipem said in the communicated
“Furthermore, the award demonstrates Saipem’s expertise in providing cutting-edge offshore solutions for the energy industry,” he added.
In a statement posted on its site in April, BP announced that it had successfully started oil production from its Argos offshore platform, “delivering more energy at a critical time and strengthening BP’s position as a leading producer in the deep waters of the US Gulf of Mexico.”
In a separate statement sent to Rigzone on Wednesday, Saipem said it had been awarded a new contract by Mellitah Oil & Gas BV Libyan Branch, a consortium formed by the National Oil Corporation of Libya and Eni North Africa, for the development of the utilization of Bouri gas. Project (BGUP), “for an approximate value of 1,000 million dollars”.
As part of this agreement, Saipem will renovate the platforms and facilities of the Bouri gas field, the company explained in the statement. The contract includes the engineering, procurement, construction, installation and commissioning of an approximately 5,000 tonne gas recovery module at the existing DP4 offshore facility, together with the col· location of 28 km of pipelines connecting the DP3, DP4 and Sabratha platforms, Saipem noted in the release.
The main lifting operations will be carried out with the Saipem 7000 semi-submersible crane vessel, the company added.
“With this award, Saipem confirms its commitment and its competitive positioning offshore Libya,” Saipem said in the statement.
“The completion of the project will make a significant contribution to the reduction of CO2 emissions in Libya,” he added.
Earlier this month, in a separate statement sent to Rigzone, Saipem announced that it had been awarded two new offshore engineering and construction contracts in Romania and Germany with a total value of around 1.8 billion euros (1.970 million dollars).
In the statement, Saipem emphasized that its agreement with Romania relates to the Neptun deep gas development project located in the Black Sea and that GASCADE Gastransport GmbH was awarded its contract in Germany to execute the pipeline laying of the “Ostsee Anbindungsleitung ” in the Pomeranian Bay in the north. – East Germany.
In its first-half 2023 earnings statement, which was published on the company’s website last month, Saipem reported first-half revenue of 5.3 billion euros ($5.79 billion) and adjusted EBITDA of 410 million euros (448 million dollars). The former was up 28 percent compared to 4.2 billion euros ($4.59 billion) recorded in the same period last year, and the latter was up 56 percent compared to 263 million euros (287 million dollars) reported in the corresponding period of 2022, Saipem. highlighted in the statement.
The company revealed in the statement that it recorded an order intake of 6.7 billion euros ($7.33 billion) in the first half of the year, which it noted was up 58 percent compared to the period corresponding to 2022.
To contact the author, please send an email andreas.exarcheas@rigzone.com
