Saipem Wins Contracts in Romania and Germany Worth €1.8 Billion

Italian energy services group Saipem on Thursday said it was awarded two contracts, in Romania and Germany, for a total value of around 1.8 billion euros ($1.97 billion).

The contract in Romania, which was awarded by the country’s top oil and gas firm OMV Petrom, relates to the Neptun Deep Gas Development Project located in the Black Sea.

As part of the contract Saipem will engineer, procure, construct and install an undersea gas processing platform, three subsea developments and a 160-kilometer-long (99.4 miles) pipeline with an associated fiber-optic cable to the coast, the company said.

Saipem added it would build the gas processing platform in its yards in Italy and Indonesia.

The second contract was awarded by Germany’s Gascade Gastransport for the laying of around 50 kilometers of the Ostsee Anbindungsleitung pipeline in the Baltic offshore.

($1 = 0.9136 euros)

(Reuters – Reporting by Giulio Piovaccari; Editing by Sharon Singleton)