Saipem secure US$1.2bn EPCI contract offshore Egypt

3382433688 1d74c328df zSaipem secures additional $1.2bn contract for Zohr Field ramp up phase. (Image source: Nandu Chitnis/Flickr)Saipem and Petrobel have negotiated an offshore contract addendum worth more than US$1.2bn for engineering, procurement, construction and installation (EPCI) activities for the Zohr gas field offshore Egypt, Saipem said in a press release

According to the Italian oil and gas contractor, the current addendum to the work includes the installation of a second 30-inch diameter natural gas export pipeline, infield clad lines, umbilicals and electrical fibre/optic cable, as well as EPCI work for the field development in deep water (up to 1700 m) of 10 wells.

Saipem CEO Stefano Cao added, “This further award of works on the Zohr development represents a new recognition of our proven capacity to embrace our client’s objectives at the early stages of cooperation and bring them to a conclusion.”

“The innovative assets and technologies already used in the previous phases, and the ability to build solid local partnerships, will also ensure the success of this latest phase,” he stated.

The company also reported that it will deploy specialised vessels during the Ramp Up to Plateau phase, which is set to begin in January 2019.

Petrobel is a 50-50 joint venture (JV) of Egyptian General Petroleum Corp. (EGPC) and the Eni S.p.A. subsidiary IEOC is developing Zohr on behalf of PetroShorouk, the company added.

PetroShorouk is a joint venture between Egyptian Natural Gas Holding Co. (EGAS), IEOC, Rosneft, BP and Mubadala, it explained.

On its website, Eni stated that Zohr is the largest gas discovery ever made in the Mediterranean Sea. In September 2018, the company reported that Zohr was producing two bcfgd.

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