Time to Lay Some Pipe! Saipem Wins $700 Million in Contracts off Brazil and Saudi Arabia

MILAN – Saipem announced today they had signed $700 million in new offshore engineering and construction contracts offshore Brazil and Saudi Arabia.

In Brazil, Saipem will be going to work for Petrobras for the complete EPCI (engineering, procurement, construction, installation) of the gas export trunkline Rota Cabiúnas, situated in the Santos Basin Pre-Salt Region, approximately 300 kilometres off the coast of the State of São Paulo.

The development comprises the engineering and procurement of subsea equipment, and the installation of a 380 kilometre long pipeline with a 24-inch diameter, in a maximum water depth of 2,200 metres.

The pipeline will connect the Central Gathering Manifold in the Lula field, in the Santos Basin, to the onshore Processing Plant of Cabiúnas, located in the Macaé district, in the State of Rio de Janeiro.

Offshore activities will be mainly carried out by the pipelay vessel Castorone and the deepwater field development ship FDS2, and will be completed by the second quarter of 2014. Saipem will utilize the new yard under development in Guarujá for pipe logistics.

The Rota Cabiúnas gas export trunkline is the first high volume gas evacuation system for the new Pre-Salt Fields.

In Saudi Arabia, within the framework of the Long Term Agreement signed with Saudi Aramco, Saipem has been awarded a contract for the fabrication, transportation and installation of offshore structures in the Marjan and Manifa fields, located in the Arabian Gulf, off the eastern coast of the Kingdom.

The contract comprises the fabrication, transportation and installation of four jackets and one observation platform, which will weigh a total of 3,300 tons.

The offshore activities will mainly be performed by the derrick lay barge Castoro II, during the fourth quarter of 2012.

Furthermore, Saipem has agreed to various changes in the scope of its work on existing E&C Offshore contracts in North and West Africa.