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Saipem Wins New Subsea Development Contracts Worth 500 Million in Russia

03 October 2011

Saipem has been awarded new E&C Offshore contracts worth €500 million (US$676 million).

In Russia, Saipem has been awarded a contract for the subsea development of Kirinskoye Gas Condensate Field with Mezhregiontruboprovostroy (MRTS) for Gazprom Dobycha Shelf, as part of the Sakhalin 3 project development. The field lies in a water depth of up to 85 meters in the sea of Okhotsk, approximately 28 kilometers off the east coast of Sakhalin Island, in the Russian Far East, and is the first subsea development of this type in Russia.

The scope of work includes the engineering, procurement, fabrication, installation of subsea structures, planned connections to subsea wells, network of infield umbilicals and shore approach to the main inland, along with survey activities in the field. The fabrication activities will be carried out in the Saipem yard of Karimun.

In Indonesia, Saipem has been awarded, by PearlOil (Sebuku) Ltd, a T&I contract for the transportation and installation of offshore structures for the Ruby Field Development - Sebuku Block, located off the eastern coast of Kalimantan (Borneo), in the Makassar Strait.

The scope of the work encompasses the transportation and installation of a process and quarters platform, of a well-head platform and of an interconnecting bridge.

Furthermore, Saipem has agreed increases in the scope of its work on existing E&C Offshore contracts.