Saipem has been awarded two new contracts for offshore activities in Côte d’Ivoire and Italy for an overall amount of 850 million euro.

The first contract has been awarded to Saipem by Eni Côte d’Ivoire and its partner Petroci. It is a Subsea Umbilicals, Risers and Flowlines (SURF) contract for the development of the Baleine Phase 2 project, which takes its name from the oil and gas field, located offshore Côte d’Ivoire at a 1,200m water depth.

The scope of work encompasses the Engineering, Procurement, Construction and Installation (EPCI) of approximately 20 km of rigid lines, 10 km of flexible risers and jumpers and 15 km of umbilicals connected to a dedicated floating unit. The installation works will be carried out by Saipem’s best-in-class offshore construction vessels and will take place in 2024.

With this new award, Saipem brings a further strategic contribution to the history of the Baleine field and strengthens its presence in Côte d’Ivoire. Saipem contributed to the drilling activities of Baleine Phase 1 by deploying the Saipem 10000 and Saipem 12000 vessels, followed up by the execution of two contracts for Baleine Phase 1 in fast-track mode.

The second contract has been awarded to Saipem, through a temporary association of companies with Rosetti Marino and Micoperi, by Snam Rete Gas for the construction of the facilities for the new Floating Storage and Regasification Unit (FSRU) to be located in the Adriatic Sea offshore Ravenna, Italy.

The project consists of the Engineering, Procurement, Construction and Installation (EPCI) of a new offshore facility, linked to the existing one, for the docking and mooring of the FSRU, to be connected to shore via a 26” offshore pipeline 8.5 km in length, plus a 2.6 km onshore pipeline and a parallel fibre optic cable. The shore crossing will utilize a microtunneling system to minimize environmental impacts. Offshore operations will be executed by Saipem’s pipelay barge Castoro 10.

The new FSRU will enable an increase in Italy’s LNG import capacity, thus improving the country’s energy security thanks to the diversification of gas sources.

Pursuant to Article 6 of the Consob Regulation on related party transactions, Saipem informs that both the above transactions entered into with Eni Côte d’Ivoire and Snam Rete Gas qualify as "related party transactions", as they involve companies subject to common control. In particular, Eni S.p.A. controls both Saipem S.p.A. (joint control shared with CDP Equity S.p.A.) and Eni Côte d'Ivoire. Cassa Depositi e Prestiti S.p.A. controls both Saipem S.p.A., through CDP Equity S.p.A. (joint control shared with Eni S.p.A.), and Snam Rete Gas, through Snam S.p.A. and CDP Reti S.p.A. Both the transactions, which qualify as "transactions of greater importance" pursuant to the Management System Guideline “Transactions with Related Parties and Parties of Interest” adopted by Saipem, fall under the exclusion provided for by Article 9 of the mentioned procedure and Article 13, paragraph 3, letter c) of the aforementioned Consob Regulation, as they are "regular transactions completed at market-equivalent or standard terms ".

About Saipem

Saipem is a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, both offshore and onshore. Saipem is “One Company” organized into five business lines - Asset Based Services, Energy Carriers, Offshore Wind, Sustainable Infrastructures, Robotics & Industrialized Solutions. The company has 8 fabrication yards and an offshore fleet of 23 construction vessels (of which 21 owned and 2 owned by third parties and managed by Saipem) and 15 drilling rigs, of which 8 owned. Always oriented towards technological innovation, the company’s purpose is “Engineering for a sustainable future”. As such Saipem is committed to supporting its clients on the energy transition pathway towards Net Zero, with increasingly digital means, technologies and processes geared for environmental sustainability. Listed on the Milan Stock Exchange, it is present in more than 50 countries around the world and employs about 30,000 people of over 120 nationalities.

About Eni

Eni is an integrated energy company employing more than 34.000 people in 69 countries in the world. Eni engages in oil and natural gas exploration, field development and production, as well as in the supply, trading and shipping of natural gas, LNG, electricity and fuels. Through refineries and chemical plants, Eni processes crude oil and other oil-based feedstock to produce fuels, lubricants and chemical products that are supplied to wholesalers or through retail networks or distributors.

About Snam

Snam is one of the world’s leading energy infrastructure operators and ranks among Italy’s largest listed companies, by market capitalization. Through a sustainable and technologically advanced network, Snam guarantees the security of supply and is a key enabler in the energy transition. Through its international footprint Snam operates in Albania (AGSCo), Austria (TAG, GCA), France (Teréga), Greece (DESFA), Italy, UAE (ADNOC Gas Pipelines) and UK (Interconnector UK) and has recently started activities in China and India. Snam is also one of the leading shareholders in TAP (Trans Adriatic Pipeline).
Since 2001 Snam is a public company, listed in the FTSE MIB index of the Italian Stock Exchange.