Saipem wins $700m worth of contracts with Eni and BP

Italian energy services contractor Saipem has sealed a pair of new deals with energy majors Eni and BP worth a total of around $700m.

The contract with Eni is for Saipem’s semisubmersible drilling rig Scarabeo 5 to be converted into a floating production unit (FPU) and installed offshore the coast of the Republic of Congo.

The FPU, which will be located northwest of the Djeno Terminal, will receive the production fluids from platforms, separate the gas from liquids and boosts the gas in order to feed the nearby Tango floating LNG unit. The commissioning offshore works and the start-up are scheduled for the fourth quarter of 2025.

Meanwhile, the BP deal covers offshore activities in the Gulf of Mexico at the Argos FPU in the Green Canyon Block 780 at approximately 1,400 m water depth.

The company’s vessel Saipem Constellation will be utilised for the project, which will be managed by Saipem’s execution centre in Houston. This will be the vessel’s first deployment in the Gulf of Mexico and follows on from a series of awards for projects in Australia and Guyana.

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