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22 May 2024

Daily Newsletter

Saipem secures $3.7bn Angola contracts with TotalEnergies 

The contracts are for the development of the Cameia and Golfinho oilfields roughly 100km off Angola's coast.  

Shivam Mishra

Italian company Saipem has secured three contracts valued at $3.7bn (€3.41bn) from TotalEnergies’ subsidiary for work on the Kaminho project offshore Angola. 

Awarded by TotalEnergies EP Angola Block 20, the contracts are for the development of the Cameia and Golfinho oilfields roughly 100km off Angola's coast.  

The first contract encompasses the engineering, procurement, construction, transportation and commissioning of the Kaminho floating production storage and offloading (FPSO) vessel.  

The second contract covers the operation and maintenance of the FPSO for an initial 12-year period, with the possibility of an eight-year extension.  

Saipem said its experience with three other FPSOs operating in Angola will be key in this phase. 

The third contract involves a comprehensive subsea, umbilicals, risers and flowlines package.  

It includes the engineering, procurement, supply, construction, installation, pre-commissioning and support for the commissioning and start-up of approximately 30km of 8in and 10in subsea flowlines, risers and umbilicals.  

The structures for this project will be fabricated at Saipem’s local yard in Ambriz. 

For the offshore campaign, Saipem plans to deploy its field development ship and engage the local supply chain for logistics and fabrication activities.  

The contracts follow TotalEnergies and its partners' final investment decision on the $6bn Kaminho deepwater project.  

The project, which is expected to start production in 2028, aims to achieve a production plateau of 70,000 barrels of oil per day.  

TotalEnergies holds a 40% stake in Block 20, with Petronas Angola E&P and Sonangol P&P owning the remaining shares. 

Recently, Saipem secured an $850m contract from Azule Energy for the development of the Ndungu field, part of the Agogo Integrated West Hub project, located 180km off Angola's coast.  

The West Hub project, situated in offshore Block 15/06, is operated by Azule Energy in partnership with Sonangol P&P and SSI Fifteen. 

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