Saipem has secured an offshore contract in Angola valued at around $350m (€303.38m) from Azule Energy Angola, a joint venture owned by Eni and bp.
The contract covers work on the West Hub Tails project, which forms part of the broader Agogo Integrated West Hub Development, situated roughly 180km off the Angolan coast at water depths reaching 1,750m.
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The scope of the agreement includes engineering, fabrication, transport and installation of subsea infrastructure including nearly 62km of flowlines, risers and umbilicals. These components will connect to the Agogo floating production, storage and offloading unit.
Saipem expects the work to last around two and a half years.
Fabrication is set to take place at Saipem’s Ambriz yard in Angola and will involve local companies and workers.
For the offshore installation phase, Saipem will use its FDS and Normand Maximus construction vessels.
The company stated that this contract highlights its presence in delivering offshore projects in West Africa and its ongoing support for the development of the energy sector in its operating regions.
In a separate development, Saipem has completed the disposal of its shareholding in Saudi Arabian Saipem to ADES Saudi, a subsidiary of ADES.
The deal closed after receiving the necessary regulatory approvals and fulfilling all required conditions.
Saudi Arabian Saipem operates in shallow-water offshore drilling. It manages a fleet of three jack-up rigs – Perro Negro 7, Perro Negro 8 and Perro Negro 10 – alongside two leased units, Perro Negro 11 and Perro Negro 13.
Saipem stated that this move aligns with its strategic focus on deepwater and harsh-environment offshore drilling, which involves higher complexity and added value.
Recently, Saipem, in partnership with Jan De Nul, signed a letter of intent with ExxonMobil Moçambique for a contract related to phase one of the Rovuma LNG project offshore Mozambique.
