Saipem wins $1.1bn contracts in Angola, Egypt

12 March 2013, London – Italian oil services firm, Saipem, has won two engineering and construction contracts in Egypt and Angola worth around $1.1 billion.

The company, based in Milan, Italy, said it had been hired by the Egypt General Petroleum Corporation, EGPC-led Burullus Gas Company to provide subsea facilities for the West Delta Deep Marine Phase IXa project.

The contract covers engineering, procurement, installation, pre-commissioning and commissioning support of subsea facilities in the West Delta Deep Marine Concession, which lies about 90 kilometres off the Mediterranean coast of Egypt.

New facilities to be provided by Saipem, which also provided subsea work on three earlier phases at the development, include rigid and flexible flowlines, umbilicals and other related subsea structures.

The works to be carried out in water depths up to 850 metres will begin between the second and fourth quarters of 2014, Saipem said.
EGPC holds a 50% stake in the operating company at West Delta Deep Marine, with BG Group and Petronas on 25% each.

The field produced 132,000 barrels of oil equivalent per day last year.
Saipem has also scooped an engineering procurement construction and installation contract with an unnamed explorer for subsea facilities off Angola.

The services player will provide production and water injection pipelines and flowlines, rigid jumpers and other related subsea structures under the deal.

Saipem’s local Soyo and Ambriz yards will complete all of the fabrication for the contract, which will see offshore activities performed between the second quarter of 2014 and the second quarter of 2015.

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