Saipem wins $190m contracts for new offshore projects

24 April 2018 (Last Updated April 24th, 2018 11:22)

Saipem has secured new contracts worth approximately $190m in Offshore Drilling and Offshore Engineering and Construction (E&C).

Saipem has secured new contracts worth approximately $190m in Offshore Drilling and Offshore Engineering and Construction (E&C).

In Offshore Drilling, the contract involves the sixth-generation semi-submersible rig Scarabeo 8, which is suitable for harsh and adverse environments.

To be carried out offshore Norway, the drilling activities for the project will continue for approximately ten months, excluding options.

Awarded by Norske Shell, the first contract refers to the development of an optional well in relation to the contract previously assigned and announced in December last year.

The second contract, which has been awarded by Total E&P Norge, will include the drilling of one well in direct continuity with the completion of the operations carried out for Norske Shell.

“Through the new awards in offshore E&C, Saipem is further reinforcing its presence and solid expertise in a strategic business such as decommissioning.”

In addition, Saipem has finalised another contract with Aker BP for the drilling of four wells, with the provision for the drilling of two optional wells.

In the offshore E&C sector, the company has secured a project from ConocoPhillips for decommissioning in the UK sector of the North Sea.

Saipem has received another new contract from Aramco Gulf Operations Company (AGOC) and Kuwait Gulf Oil Company (KGOC), jointly operating as Al Khafji Joint Operations (KJO), for the engineering, construction, offshore installation and commissioning of a new crude transmission line in the Arabian Gulf.

Saipem chief executive officer Stefano Cao said: “The new contracts in offshore drilling confirm the strategy of the company in this segment, aimed at consolidating relationships, including with new customers, while awaiting a further recovery of this market.

“Moreover, through the new awards in offshore E&C, Saipem is further reinforcing its presence and solid expertise in a strategic business such as decommissioning.”