North Sea helps Saipem bag £305million in contracts

Saipem won an EIPC contract for Premier's Tolmount development in August
Saipem won an EIPC contract for Premier's Tolmount development in August

 

Saipem has reported contract wins worth £304.9million in the  North Sea, Azerbaijan and the Republic of Congo.

The Italian engineering services firm was hired in August for work on Premier Oil’s newly-sanctioned Tolmount development in the southern North Sea.

Saipem is carrying out pipeline engineering, procurement construction and installation at Tolmount.

The company was hired by Humberside Gathering System, owned by CATS management, on behalf of the development partners, including Dana Petroleum.

Humberside Gathering System and Dana are paying for the platform and infrastructure in the deal.

In April, Saipem was also awarded a subsea, umbilicals, flowlines and risers (SURF) contract for the Absheron field in the Caspian Sea owned by Total and Socar Absheron.

Finally, the firm was awarded a 36-month contract by Eni Congo at its sites for maintenance services and modifications.

Chief operating officer of Saipem’s E&C offshore division, Stefano Porcari, said: “These new offshore contracts confirm Saipem’s success in achieving its strategy aimed at consolidating its leadership in traditional markets, such as SURF, Conventional and Pipelines, as well as at diversifying its business in Non-Oil Capex segments, such the Modifications Maintenance Operations market.

“The SURF contract, in particular, confirms the importance of Azerbaijan, where we have been working with continuity for several years, bringing our expertise to create an enduring and fruitful relationship in the country as well as contributing and consolidating our local content endeavour”.

Breaking