Algeria’s Sonatrach, Italy’s Saipem agree to end disputes

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Algeria’s state energy firm Sonatrach and Italian oil firm Saipem signed an agreement on Wednesday to end their legal disputes, company executives said.

“It’s a big day for Saipem and for me,” Saipem’s CEO Stefano Cao told reporters.

Sonatrach’s CEO Abdelmoumen Ould Kaddour said, “The agreement will open opportunities for my firm in the coming years in Algeria.”

ExxonMobil affiliate Esso Exploration and Production Guyana Limited has awarded an Engineering, Procuring, Construction and Installation (EPCI) contract to Saipem for the Subsea Umbilicals Risers Flowlines (SURF) package for Liza Phase 1 project.

The installation operations will be done approximately 120 miles offshore Guyana at a water depth of 1,800 metres at the Liza field.