Saipem Awarded New Offshore Contracts Worth Approximately EUR 700 Million

Saipem has been awarded new offshore contracts worth approximately 700 million euro. In Nigeria, Saipem has been awarded a subcontract for the Critical Crude Pipeline Replacement Project.

The awarded scope of work encompasses fabrication, transportation, installation and testing of the replacement of 6 pipe lines (having a diameter ranging between 10 and 24 inches) connecting 6 platforms in an offshore field, for a total length of 85 kilometres; including shore approach and bridges. The marine activities will be carried out between the fourth quarter of 2010 and the second quarter of 2011, mainly by the Crawler vessel.

Nord Stream AG had signed with Saipem additional scope of work to the contract for laying the Nord Stream twin gas pipelines across the Baltic Sea, between Vyborg in Russia and Greifswald in Germany. Each line is approximately 1,220 kilometers long. Contract extension relates to rock placement, dredging and backfilling and testing and pre-commissioning activities. Saipem started laying activities for the first line on April 2010 with the pipe laying vessels Castoro Sei and Castoro 10. The completion of the laying of the first line is scheduled in first half 2011, and the laying of the second line is scheduled between 2011 and 2012.

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Source: saipem, October 26, 2010

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