Saipem scores $1.2bn worth of additional work offshore Egypt

Saipem scores $1.2bn worth of additional work offshore Egypt

Italian contractor Saipem has negotiated with Petrobel an offshore contract addendum worth more than $1.2bn for engineering, procurement, construction and installation activities in relation to the ‘Ramp Up to Plateau’ phase of the Zohr field development project situated in the Mediterranean Sea off the Egyptian coast.

Petrobel is a 50-50 joint venture between Egyptian General Petroleum Corporation and IEOC (an Eni subsidiary in Egypt) and is in charge of the development of Zohr on behalf of PetroShorouk, a joint venture between Egyptian Natural Gas Holding Company and IEOC, Rosneft, BP and Mubadala Petroleum.

The current addendum to the work includes the installation of a second 30-inch diameter gas export pipeline, infield clad lines, umbilicals and electrical/fiber optic cable, as well as EPCI work for the field development in deep water (up to 1,700 metres) of 10 wells.

The cited phase is scheduled to commence in January 2019, in direct continuity with the Optimised Ramp Up phase which has been completed in an outstanding 17-month project execution period from its contract award.

In this new phase of works, Saipem will deploy a range of highly specialised vessels including ultra-deep water pipelayer Castorone, subsea field development ship FSS,heavy lift vessel S7000, subsea construction vessels Normand Maximus and Saipem 3000, pipelay vessel Castoro Sei and multipurpose vessels Normand Cutter and Far Samson.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.

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