Italian contracting giant Saipem has been issued with a limited notice to proceed by floater specialist BW Offshore for early stage engineering services for the floating production, storage and offloading vessel destined for Shell’s Gato do Mato field development offshore Brazil.

The LNTP is valued at up to $50 million, with Saipem’s share worth around $25 million, the contractor confirmed.

“The LNTP is a key step ahead for this initiative and [the] Saipem project team is already fully mobilised,” said Saipem.