Italian oil and gas industry contractor Saipem has signed a $275m deal to buy Lewek Constellation, an ultra-deepwater rigid and flexible pipelay, heavy-lift and construction vessel.

The 3,000t vessel is ready for commercial opportunities.

Completed in 2013, Constellation is set to be marketed in all geographic areas, including the Gulf of Mexico and the North and Norwegian Seas where the company believes it is suitable to pursue subsea tie-back initiatives.

Saipem CEO Stefano Cao said: “The Constellation is the latest addition to Saipem world-class fleet that will integrate our offering with reeling capabilities in order to safely and competitively respond to the needs of the subsea tie-back market.

“Subsea tie-backs developments are becoming increasingly important as they maximise the utilisation of the existing infrastructures at reasonable expenditures.”

“Indeed, in the current economic scenario, the subsea tie-backs developments are becoming increasingly important as they maximise the utilisation of the existing infrastructures at reasonable expenditures.

“Saipem was only partially participating in this market. The acquisition of the Constellation bridges this gap, expanding the set of future opportunities.”

The company expects the acquisition to bolster its subsea growth, alongside strengthening the relationship with its partners in the integrated subsea, umbilicals, risers and flowlines (SURF) and SPS segment.

The funding for the transaction will be arranged from the company’s available liquidity.