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    Saipem acquires site for fabrication yard in Brazil

    Company News // October 14, 2011

    Saipem has agreed the acquisition of 100 per cent of Terminal Portuário de Guarujá (TPG) SA, a company which fully owns, as a perpetual concession, an area of 35 hectares in Guarujá, within the industrial hub of Santos, the largest port of South America, in the state of São Paulo.

    The area is strategically located, approximately 350km from the Santos Basin, the offshore region where ultra-deep water 'pre salt' fields are being discovered, and approximately 650kms from the Campos Basin, the other most important Brazilian offshore basin.

    Saipem will develop the area through the construction of a fabrication yard, for subsea and floating structures, and of a logistics base.

    At the new yard, Saipem will carry out activities which are complementary to the services provided by the highly specialized ultra-deep water fleet recently built by the

    "The activities will satisfy ambitious Brazilian local content requirements," said Saipem.

    The new yard will cost approximately US$300 million, including the amount for the purchase of TPG, and is expected to be completed within two and a half years.


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