Italy’s Saipem signs $600-million worth of contracts

Italy

MILAN, November 15, 2021 – Saipem has signed contracts worth USD 600 million for offshore transportation and installation works in Australia and Turkey, the Italian contractor announced today.

The first contract awarded by Chevron Australia is for the offshore Janszo-lo compression project located 200 kilometres from Australia’s northwest coast in water depths of 1,400 metres.

Works are expected to begin in 2024 with Saipem’s Constellation vessel.

The second contract is for pipeline installation works on Turkish Petroleum’s deepwater Sakarya gasfield development located 175 kilometres offshore the city of Eregli on the Black Sea in depths of 2,200 metres.

Works will be carried out by Saipem’s Castarone vessel in early 2022.

“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,” said Francesco Caio, CEO and general manager of Saipem.