Saipem wins new orders worth $600m

Italian contracting giant Saipem has been awarded two new offshore transportation and installation contracts valued at more than $600 million combined.

The first contract was awarded by Chevron Australia for the Jansz-Io compression project, at the gas field located around 200 kilometres off the north-western coast of Australia, at water depths of about 1400 metres.

The second contract covers the Sakarya gas field development, operated by Turkish Petroleum, the first deep-water natural gas field discovered in Turkey in the Black Sea, about 175 kilometres offshore the coast of Eregli.

The contract entails the transportation and installation of pipelines to 2200-metre water depth.

Work is due begin in the spring and will be conducted mainly by the Castorone vessel.

Saipem chief executive Francesco Caio said: “The award of these two important contracts highlights our solid expertise in subsea installation and our world-class assets as well as being a tangible sign of recovery of the offshore market.

“These new contracts in the gas sector, a fundamental element of the energy transition, provide solid indications of the improvement in demand and testify to Saipem's capability of offering solutions in line with its clients’ needs.”