Saipem awarded $307m offshore installation contract in Italy

Italian energy services contractor Saipem has sealed an engineering and construction (E&C) deal with Eni’s subsidiary Enimed for the transportation and installation of an offshore gas pipeline connecting the four wells of Argo and Cassiopea fields to the Sicilian coast.

Under the contract, worth approximately €300m ($307.2m), Saipem will mobilise its 2012-built Castorone and 1976-built Castoro 10 to install 60 km long pipeline in water depths reaching up to 660 m.

In addition, the 1984-built heavylift vessel Saipem 3000 will install umbilicals connecting Cassiopea wells to the Prezioso platform.

Saipem said the Cassiopea project represents a strategic and complementary infrastructure in the frame of the Italian gas supply, which has been recently affected by the geopolitical scenario. Eni is the operator and holds a 60% stake, with London-listed Energean holding the remaining 40%. The first gas is expected in the first half of 2024.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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