Wednesday, November 30, 2022

Saipem bags contract for largest discovery in 20 years off Ivory Coast

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Saipem said Tuesday that it got approximately €1 billion added to its order book to aid the Baleine Phase 1 Project, a development of an oil and gas field located at 1,200 metres water depth, off the Ivory Coast.

Saipem said the Baleine Prospect represents the largest commercial discovery in the country in the last 20 years and it is being primed to strengthen Cote d’Ivoire’s role as a regional energy hub. Saipem contributed to the discovery of the field thanks to the drilling activities of the Saipem 10000 and Saipem 12000 vessels.

The first contract entails Engineering, Procurement, Construction and Installation (EPCI) activities of Subsea Umbilicals, Risers and Flowlines (SURF) and of an onshore gas pipeline for the connection to the distribution grid.

The offshore laying of flexible lines, risers and umbilicals will be executed by Saipem’s flagship vessel FDS2 and the development of the project will be on a fast-track basis. The start of operations is planned for the fourth quarter of 2022.

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The second contract – also developed with a fast-track schedule – encompasses Engineering, Procurement, Construction and Commissioning activities regarding the refurbishment of the Firenze floating production, storage and offloading (FPSO) vessel, plus 10 years of Operations and Maintenance services of the vessel.

Saipem said, “The award of significant contracts in a new area with great potential such as Ivory Coast represents an important recognition of Saipem’s role as a contractor of excellence for the execution of complex projects requiring the integration of drilling, engineering and construction skills – both onshore and offshore – on a fast-track basis.”

The firm sees the awards as a consolidation of its strategic positioning in West Africa.

The contracts were assigned by the ENI Cote d’Ivoire-Petroci consortium. ENI owns 90% of the operation while the state-owned Petroci holds the remaining 10% stake.

Saipem is a major contractor for ExxonMobil Guyana, operator of the offshore Stabroek Block in the South American country.

As with previous Guyana projects, Saipem is set to deliver a major subsea system for the country’s largest oil project – Yellowtail; the contract includes the Engineering, Procurement, Construction, and Installation (EPCI) of the Subsea Umbilicals, Risers & Flowlines (SURF).

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