Saipem has been awarded by Total two contracts in Angola for a total value exceeding 4 billion dollars. The major contract, worth over $3 billion, covers the engineering, procurement, installation and commissioning of two floating production storage and offloading (FPSO) units for the field development project Kaombo mine, located in Block 32 off the coast of Angola.
The second contract is for seven years and is intended for the management and maintenance services of the two vessels for a value of approximately one billion dollars.
The two converted FPSO units, owned by Total, will each have an oil processing capacity of 115.000 barrels per day, a water injection capacity of 200.000 barrels per day, a gas compression capacity of 100 million standard cubic feet per day and a storage capacity of 1,7 million barrels of oil.
“The contracts – commented Saipem's CEO, Umberto Vergine – are in line with Saipem's strategy to pursue growth opportunities in the construction of highly complex Floaters and FLNG plants in strategic geographic areas, such as Asia-Pacific and the ' Africa, where Saipem can count on its engineering capabilities, strong local expertise and the unique availability of its manufacturing yards".
By mid-morning, Saipem's stock gained more than 2%.
