Saipem Awarded New Contracts in North Sea and Nigeria

Saipem has been awarded two lump sum turnkey contracts worth approximately €220m.

In the offshore construction segment, a lump sum contract has been won for the installation of a pipeline to transport natural gas crossing the North Sea continental shelf of Netherlands and UK from Callantsoog on the north western Dutch coast to Bacton on England's east coast.

The contract from BBL Company has a total value in excess of €100m. The scope of work comprises the installation of 230 km x 3inch diameter gas pipeline and associated land-fall and tie-in works. The vessel Castoro Sei will carry out most of the pipelay between second and third quarter 2006.

In the onshore construction segment, Saipem has been awarded the lump sum turnkey contract of de-bottlenecking for Soku LNG Gas Supply Plant Facilities in Nigeria.

The contract, awarded by Shell Petroleum Development Company of Nigeria Ltd., amounts to approximately USD150m (approximately €120m). The scope of work encompasses engineering, procurement and construction of additional facilities at the LNG Gas Supply Plant located in Soku, Nigeria, to increase its capacity and also improve operability. Completion is expected in the second half of 2006.

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Added to site on 24/08/04

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