Saipem wins a new US$1 billion offshore contract in Kazakhstan

 May 18, 2009; h 11:00

San Donato Milanese (Milan), 18 May 2009 – Saipem has been awarded a new offshore contract in Kazakhstan, as part of the experimental programme of the Kashagan field development, located in the northern part of the Caspian Sea, for the production of crude oil and associated gases by an artificial offshore facilities system denominated Block D and Block A.

Saipem, in partnership with Aker Solutions, has been awarded by Agip KCO the contract for activities for the hook-up and commissioning of the offshore facilities as well as for the inshore completion and pre-fabrication to be executed in the Kuryk yard in Kazakhstan.

Saipem’s portion of the contract is worth approximately US$1 billion.

The marine activities will be carried out using five barges converted into temporary living quarters and offices, as well as temporary barges, which Saipem refurbished and prepared according to the preliminary contract signed with Agip KCO in 2007. The activities will be completed by 2012.

The very shallow water, the severe weather and the stringent environmental restrictions alongside the lack of infrastructure for the offshore industry make the project particularly complex and challenging.

Saipem, 43% owned by Eni, is organised in three Business Units: Offshore, Onshore and Drilling, with a strong bias towards oil & gas related activities in remote areas and deepwater. Saipem is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and the execution of large scale offshore and onshore projects, and technological competences such as gas monetisation and heavy oil exploitation.


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