Saipem awarded new contracts worth more than US$1.1 billion

Contracts, Tenders and Rates - May 30, 2012

Saipem has been awarded new contracts in Russia and the North Sea worth in excess of US$1.1 billion.

In Russia, Saipem has signed a lump sum EPCI contract with LUKOIL-Nizhnevolzhskneft (a wholly-owned LUKOIL subsidiary), for two export pipelines connecting the riser block in the Vladimir Filanovsky field in the Northern Caspian Sea to onshore shut-off valves off the coast in the Kalmyk Republic.

The scope of work comprises the engineering, procurement, fabrication and installation of a 22in diameter, 114km long oil pipeline and a 28in diameter, 114km gas pipeline in a maximum water depth of 6m, along with related onshore pipelines of 10km and 20km, respectively. Offshore activities will mainly be performed by the pipelay barge Castoro 12 and trenching vessel Castoro 16 between 2013 and 2015.

Saipem has also been awarded new contracts by several clients in the North Sea.
Among these Saipem has signed a lump sum EPCI contract with Dong E&P in Denmark, for a gas export pipeline and an oil export pipeline in the Hejre field, located approximately 300km off the Western Danish coast.

The scope of work includes the engineering, procurement, fabrication and installation of a 24km, 12in diameter gas pipeline in a water depth of 69m and an oil export pipeline of 90km and 10in diameter in a water depth of 40m, connecting the field to an offshore platform.

The offshore activities will be performed between the second and third quarter of 2014.