Saipem awarded new Offshore contract worth 390 million euro

 March 07, 2008; h 12:00

San Donato Milanese (Milan), 7 March 2008 – Saipem has been awarded the contract for the FSRU (Floating, Storage and Regasification Unit) LNG terminal of Livorno, located some 20 kilometres off the coast of Tuscany, Italy.

OLT Offshore LNG Toscana awarded Saipem the contract, worth 390 million euro, which encompasses the conversion of the gas carrier ship Golar Frost, provided by the client, into a floating, storage and regasification unit. The contract includes the offshore installation and commissioning activities with work scheduled to be completed within three years.

The FSRU will have a storage capacity of 137,000 cubic meters of LNG and a production capacity of 3.75 billion cubic meters of natural gas per year.

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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