Saipem’s stock price jumped this morning on the stock exchange, following the news of the award of a contract worth 1,9 billion dollars. This is a contract Epci (Engineering, Procurement, Construction and Installation) by TotalEnergies EP Suriname BV, a subsidiary of TotalEnergies, for the submarine development of the GranMorgu project, located in the Block 58 oil and gas field, 150 km off the coast of Suriname, South America. The contract has a worth 1,9 billion dollars.
The stock jumped up at Piazza Affari, gaining almost 2% at the opening to a maximum of 2,37 euros, before reducing its gains to +0,65 at 2,32 euros.
The entire project, which is expected to be duration of 5 years cwith first oil in 2028, represents the first major subsea development in Suriname and has the purpose of expand production of the central area of the block through a system of underwater wells connected to a floating production, storage and offloading (FPSO) unit.
What Saipem will do in detail in Suriname
Saipem’s activities include engineering, procurement, supply, construction, installation, pre-commissioning and assistance for commissioning and start-up phase of the Subsea Umbilicals, Risers and Flowlines (Surf) package. This includes the EPCI of approximately 100 km of underwater pipelines with diameter from 10” to 12”, 90 km of pipelines for thewater and gas injection with diameters from 8” to 12”, as well as the transport and installation of riser flexible, umbilicals and associated structures, at water depths between 100 and 1.100 metres. For the offshore campaign, which will take place in 2027 and 2028, Saipem will employ a combination of vessels with S-Lay and J-Lay capabilities, thus providing the optimal solution for the installation of the pipelines.
Furthermore, Saipem will execute the project in collaboration with TechnipFmc, the company responsible for the Subsea Production System (SPS) packages and the supply of flexible riser and umbilical packages, in order to optimize the integration between the portions of work assigned to the two companies, thus demonstrating the success of the collaborative model of the commercial alliance created by the two companies in 2021 for the realization of subsea projects that include integrated SURF-SPS developments.
This long-term contract in Suriname contributes to the overall fleet commitment up to 2028. It also consolidates the Saipem’s presence in South America and strengthens the company’s track record in developing complex subsea projects.
Saipem is a global leader in the engineering and construction of major projects in the energy and infrastructure sectors, both offshore and onshore. The company has 6 fabrication yards and an offshore fleet of 21 construction vessels (of which 17 are owned and 4 are owned by third parties and managed by Saipem) and 15 drilling rigs, of which 9 are owned. It is present in more than 50 countries worldwide and employs approximately 30.000 people of over 120 nationalities.
Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=67360be39a5540e9b745a45ea6c8ed87&url=https%3A%2F%2Fwww.firstonline.info%2Fen%2Fsaipem-new-offshore-contract-from-totalinergies-in-south-america-worth-almost-2-billion-dollars-the-stock-rises%2F&c=6999883115949882553&mkt=en-us
Author :
Publish date : 2024-11-13 22:10:00
Copyright for syndicated content belongs to the linked Source.
