Saipem: wins a $2 billion contract in Indonesia as part of a joint venture
(Il Sole 24 Ore Radiocor) - Saipem, through its subsidiary PT Saipem Indonesia, in a joint venture with PT Tripatra Engineers and Constructors, has been awarded a contract for the engineering, procurement, construction and installation of a floating production, storage and offloading unit for the “Kutei North Hub Field Development” project, located in the Kutei Basin, in the East Kalimantan region of Indonesia. The company announced this in a press release. The contract, worth approximately $2 billion for Saipem’s share, was awarded by Eni North Ganal, a subsidiary of Searah, which in turn is the company resulting from the business combination between Eni and Petronas. The project, with an estimated duration of around 48 months, comprises project management, detailed engineering, materials procurement, fabrication, construction and installation, as well as the commissioning and start-up phases of the FPSO unit. The Kutei FPSO project forms part of the Kutei North Hub Field Development, which involves a subsea connection to a new FPSO, a gas pipeline dedicated to exporting gas to the Bontang LNG plant and to domestic gas consumers via the existing East Kalimantan System. According to the press release, this contract award further strengthens Saipem’s position in the floating production unit project segment, capitalising on the company’s unique combination of engineering expertise and local manufacturing capabilities, as well as its proven track record in the fast-track execution of projects.
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