Italy’s Saipem has been awarded a new offshore contract by Shell in Nigeria for the Bonga North Project relevant to the development of a deepwater oil field, 130 km off the coast of Nigeria.
Specifically, the company has closed a deal with Shell Nigeria Exploration and Production Company Limited (SNEPCo) for the project.
Milan stock exchange-listed Saipem, an expert in the engineering and construction of major projects for the energy and infrastructure sectors, both offshore and onshore, will work on the project as part of a consortium with KOA Oil & Gas and AVEON Offshore.
The overall value of the contract is around $1bn and Saipem’s share amounts to approximately $900m.
The project is related to the tieback of wells to the existing FPSO. Saipem’s scope of work encompasses the engineering, procurement, construction and installation of risers, flowlines, subsea umbilicals, and associated subsea structures.
The design and fabrication activities will be carried out locally, also involving Nigerian suppliers and subcontractors.
Saipem said that this major contract contributes to the overall fleet booking until 2027.
The company has 6 fabrication yards and an offshore fleet of 21 construction vessels (of which 17 owned and 4 owned by third parties and managed by Saipem) and 15 drilling rigs, of which 9 owned.
