Italian energy industry services firm Saipem has won 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 wellhead riser platforms, separates the gas from liquids, and boosts the gas in order to feed the nearby Floating LNG (FLNG) unit.
The contract follows an agreement signed early this year for the execution of preliminary engineering and procurement activities, and entails 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.
Following the contract award, China's CIMC Raffles and Saipem signed a contract for CIMC to convert the semi-submersible drilling rig into an FPU.
The main conversion activities will see CIMC dismantle the drilling system, repair & refurnish the marine system, implement new topside process modules, and convert it into a proper offshore oil and gas floating production unit.
Also, Saipem has won a contract with BP for offshore activities in the Gulf of Mexico. The contract is related to the Argos deepwater Floating Production Unit (FPU).
The Argos FPU is located in the Green Canyon Block 780, in a water depth of 1,400 meters.
The Saipem Constellation vessel 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. Saipem did not say what the project scope entailed.
"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," Saipem said.