Saipem wins US$100m contract

Italy’s Saipem has won a major subsea pipeline contract in Equatorial Guinea.

According to Reuters, Saipem has won a US$100 million Equatorial Guinea contract to build a 70 km subsea pipeline with the capacity of 27 million m3 of gas per day.

The pipeline will link the Alen platform with the Punta Europe petrochemical hub and gas deliveries from the project – operated by Noble Energy – are expected to begin in early 2020.

Equatorial Guinea Oil Minister Gabriel Obiang Lima said in a statement that the pipeline will serve offshore gas fields and will extend the life of the country’s liquefied natural gas (LNG) production assets.

“We anticipate that this contract, which is being approved exceptionally under the given circumstances, will contribute immensely to improving the performance of local businesses and the creation of employment,” he said.

The pipeline forms part of a plan to link various offshore gas fields to onshore LNG facilities and turn the island of Bioko into a gas processing hub.

Currently, Equatorial Guinea derives more than 90 per cent of its foreign revenue from oil and gas.

For more information visit the Saipem website.

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