Saipem awarded Ivory Coast contracts worth US$960 million

Saipem has been awarded two contracts in the Ivory Coast, totalling US$960 million (€1 billion) for the development of the Baleine Prospect, an offshore oil discovery off the coast of the African country.

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Located 60km off the coast at a depth of 1,200m, the site was discovered last year by Eni Cote d’Ivoire-Petroci consortium, who awarded the contract to Saipem.

The Italian company, which was involved in the discovery through the drilling activities of its Saipem 10000 and Saipem 12000 vessels, will start the project later this year.

The first contract will see Saipem provide a range of services to the project, including Engineering, Procurement, Construction and Installation (EPCI) activities of Subsea Umbilicals, Risers and Flowlines (SURF) and of an onshore gas pipeline for the connection to the distribution grid.

Saipem will also carry out the laying of flexible lines, risers and umbilicals using its flagship vessel FDS2.

As part of the second contract, Saipem will carry out Engineering, Procurement, Construction and Commissioning activities regarding the refurbishment of the Firenze FPSO vessel, plus ten years of Operations and Maintenance services of the vessel. Both contracts will be carried out on a fast-track basis.

Said to be the largest discovery of oil in the Ivory Coast in the last 20 years, Eni say the discovery will help to contribute to energy production in Ivory Coast as well as strengthen its role as a regional energy hub.

The consortium says the discovery could uncover up to 2.0 billion barrels of oil and 2.4 trillion cubic feet (TCF) of associated gas.