Home Saipem pockets $700 million in offshore contracts in Guyana and Congo

Saipem pockets $700 million in offshore contracts in Guyana and Congo

21 from 2018 to 11 at 20: XNUMX
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saipem vessel contract

Italian oil services contractor Saipem has been awarded contracts for the second phase of the development of the Liza field led by ExxonMobil off the coast of Guyana. He also won an offshore job contract in the Congo.

Once Liza 2 is sanctioned, Saipem will undertake detailed engineering, procurement, construction and installation of the risers, flowlines and associated structures and jumpers. Saipem will also transport and install umbilicals, collectors and associated foundations for the water and gas production and injection systems.

Stefano Cao, CEO of Saipem, said: “For Saipem, this award is significant and strategic, and consistently supports our aim to consolidate our leadership position in the offshore Subsea Flowlines Umbilicals and Risers (SURF) market. It also consolidates our relationships with an important customer like ExxonMobil and allows us to safely contribute to the development of Guyana's significant hydrocarbon resources. Ultimately, this project is expected to involve the newly acquired Constellation vessel, which, together with the FDS2, will ensure an offshore execution campaign to reach first oil by 2022”.

In addition to the Liza 2 contract, Saipem said on Tuesday that its subsidiary Boscongo SA has been awarded a new Offshore E&C contract in the Republic of Congo for an MMO (Maintenance, Modifications and Operations) project in relation to the Centrale Electrique du Congo, which covers more than half of the country's electricity supply.

The scope of work includes engineering, procurement, construction and commissioning, as well as start-up and performance tests for the project, whose purpose is to expand the capacity of the open-cycle plant located 15 km south-east of Pointe Noire, in close proximity to the shipyard of Saipem, which will provide the necessary support to project activities. Production will be brought from the current 300 MW to 450 MW.

The total value of the two contracts is approximately $700 million.

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