Saipem has been awarded a new contract by Mellitah Oil & Gas B.V. Libyan Branch, a consortium formed by National Oil Corporation (NOC) of Libya and Eni North Africa (Eni), for the development of the Bouri Gas Utilisation Project (BGUP), worth approximately 1 billion USD.

Saipem will undertake revamping of the platforms and of the facilities of the Bouri gas field, which lies in water depths between 145 m and 183 m, offshore the Libyan coast. The contract entails the engineering, procurement, construction, installation and commissioning (EPCIC) of an approximately 5,000-ton Gas Recovery Module (GRM), onto the existing DP4 offshore facility, together with the laying of 28 km of pipelines connecting the DP3, DP4 and Sabratha platforms.

The main lifting operations will be executed by the semi-submersible crane vessel Saipem 7000. With this award, Saipem confirms its commitment and competitive positioning offshore Libya. The completion of the project will make an important contribution to reducing CO2 emissions in Libya.

Pursuant to Article 6 of the Consob Regulation on related party transactions, Saipem informs that the above transaction qualifies as a "related party transaction", since Eni S.p.A. jointly controls both Saipem and Mellitah Oil & Gas B.V.. The transaction, which qualifies as a "transaction of greater importance" pursuant to the Management System Guideline “Transactions with Related Parties and Parties of Interest” adopted by Saipem, falls 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 it is a "regular transaction completed in 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 9 fabrication yards and an offshore fleet of 29 construction vessels (of which 26 owned and 3 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 the National Oil Corporation

The National Oil Corporation (NOC) owns refining, and oil and gas processing companies, operating refineriessuch as Zawia and Ras Lanuf refineries, ammonia, urea and methanol plants, the Ras Lanuf petrochemical complex and the gas processing plan. To establish petrochemical industries, anther stage of development of the ethylene plant has been completed , as well as the low and high density linear polyethylene plants.

NOC also owns national service companies which carry out oil well drilling and work over operations, provide all drilling material and equipment, lay and maintain oil and gas pipelines, build and maintain oil and gas storage tanks and carry out related technical and economic studies . They also provide the sector with other services , such as catering, procurement of materials and equipment, training and employment of foreign employees.

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.