bp, Eni award Saipem two offshore contracts totaling $700 million

(WO) – Saipem has been awarded two new contracts, the first by Eni Congo and the other by bp, for a total value of around $700 million.

The first contract has been awarded to Saipem by Eni Congo for the conversion of Scarabeo 5 semisubmersible drilling unit into a separation and boosting plant (Floating Production Unit - FPU).

The FPU is a semisubmersible production platform that receives the production fluids from wellheads riser platforms, separate the gas from liquids and boosts the gas in order to feed the nearby Floating LNG (FLNG) unit.

The contract includes the Engineering, Procurement, Construction, Transportation and Commissioning of the FPU, to be installed offshore the coast of the Republic of Congo, located northwest of the Djeno Terminal, in a depth of about 35 meters. The commissioning offshore works and the start-up of the FPU are scheduled by the fourth quarter of 2025.

This contract awarded to Saipem is part of Eni’s Congo LNG Project, the country's first natural gas liquefaction project that is expected to reach an overall liquefied natural gas (LNG) production capacity of 3 million tons per year (approximately 4.5 billion cubic meters/year) from 2025.

In addition, Saipem has been awarded by bp a contract for offshore activities in the Gulf of Mexico. The contract is related to the Argos Floating Production Unit (FPU), a cutting-edge facility designed for oil and gas production in deepwater environments. The Argos FPU is located in the Green Canyon Block 780, approximately 1,400 meter water depth.

The flagship vessel Saipem Constellation will carry out the marine activities required for the project, which will be managed by Saipem's execution center in Houston, a strategic hub for the company's activities in the region.

This contract represents a significant milestone as it will be the first project involving the deployment of the Saipem Constellation in the Gulf of Mexico and follows a series of awards for projects in Australia and Guyana. In addition, the award proves Saipem's expertise in delivering cutting-edge offshore solutions for the energy industry.