Saipem has been awarded a $US554 million contract to provide supporting works relating to the construction of the second line of the South Stream Offshore Pipeline in the Black Sea.
According to Saipem, the contract includes engineering, coordination of storage yards, cable crossing preparation and connecting the offshore pipeline to landfall sections through "tie ins".
The works are projected to be completed by the end of 2016. This contract is an addendum following the major contract for the first line of the South Stream Offshore project awarded to Saipem last month.
Read more: Saipem picked for South Stream
Eventually, South Stream will comprise four parallel gas pipelines across the Black Sea from Russia to Bulgaria, each 931km long, in water depths of up to 2200m.
Saipem has also recently won contracts in Africa off Angola, bagging US$4 billion for the engineering, procurement, installation and commisioning (EPIC) of two converted turret-moored FPSOs for the Kaombo mega project, and a seven-year contract for operation and maintenance services of the two vessels.
The firm has also been busy with the green light for stage 2 of the projected $US28 billion Shah Deniz development project off Azerbaijan in the Caspin Sea. According to reports, Saipem has confirmed an $1.8 billion award from BP to it, BOS Shelf and Star Gulf FZCO for work on the gas field. The scope of the contract includes transportation and installation of jackets, topsides and other equipment.
The development is expected to see first gas in 2018.
South Stream Transport B.V. is a JV between Gazprom which holds 50% stake; Eni which holds 20% stake; EDF and Wintershall, each holding 15% stake.
Read more on OE coverage of Saipem's recent activity:
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