Italy's Saipem wins two contracts with Eni, BP worth a total $700 mln - Reuters

Italy's Saipem wins two contracts with Eni, BP worth a total $700 mln | Reuters

Italy's Saipem wins two contracts with Eni, BP worth a total $700 mln

[1/2]The logo of Italian multinational energy company Eni is displayed at their booth during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. REUTERS/Chris Helgren/File Photo

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MILAN, Aug 10 (Reuters) - Italian energy services group Saipem (SPMI.MI) on Thursday said it was awarded two new contracts by Eni's (ENI.MI) Eni Congo and BP (BP.L), worth a total of around $700 million.

The new contacts came after the Italian group announced a $1 billion contract in Libya on Wednesday and two others in Romania and Germany last week for a total value of around 1.8 billion euros ($2 billion).

The first contract announced on Thursday, with Eni Congo, is for the conversion of the Scarabeo 5 semisubmersible drilling unit, in the Republic of Congo offshore, into a separation and boosting plant, or Floating Production Unit (FPU), feeding natural gas to a nearby floating LNG unit.

This is part of Eni's Congo LNG Project, the country's first natural gas liquefaction project, which is expected to reach an overall LNG production capacity of 3 million tons per year, or approximately 4.5 billion cubic meters per year, from 2025, Saipem said in a statement.

The contract with BP is for offshore activities in the Gulf of Mexico, related to the Argos FPU, a facility designed for oil and gas production in deepwater environments, the company said. ($1 = 0.9080 euros)

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