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Saipem awarded €1.5 billion in contracts

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Oilfield Technology,

New contract awards for Saipem and orders in E&C offshore have totaled €1.5 billion euros. Significantly, Petrobel has award Saimpen an EPCI contract for the accelerated start-up of the development project for the Zohr Gas Field, located off the Egyptian coast in the Mediterranean sea.

Petrobel, is a joint venture between Eni and EGPC (Egyptian General Petroleum Corporation) and is in charge of the development of Zohr on behalf of PetroShorouk, a joint venture between EGAS (Egyptian Natural Gas Holding Company) and Eni.

The scope of work of the contract comprises the installation of a 26 in. gas export trunkline and 14 in. and 8 in. service trunklines, as well as EPCI work for the field development in deepwater (up to 1700 m) of six wells and the installation of the umbilical system. Work is to start in July 2016 and is due to be completed by the end of 2017.

Deployment of deepwater vessels

In order to keep to the accelerated development schedule, Saipem will mobilise a fleet of vessels to carry out offshore operations, consisting of the ultra-deepwater last generation pipelayer Castorone, the semisubmersible pipelayer Castoro Sei, the trench/pipelay barge Castoro 10, and other specialised vessels.“We are very pleased to have been selected for the important objective of delivering first gas from Zohr before the end of 2017”, commented Stefano Cao, Saipem CEO. “We will mobilise a fleet of vessels with last-generation capabilities, and leverage on our proven expertise and consolidated presence in the area, in order to ensure our clients achieve their targets.”

The Zohr gas field was discovered by Eni in August 2015, using the drillship Saipem 10000, which is still operating in the area.

Furthermore, Saipem has agreed to various changes in the scope of work on existing E&C Offshore contracts in other countries.

Adapted from a press release by Louise Mulhall

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