Italy: E&C Offshore contracts

Saipem announced that it has been awarded new E&C Offshore contracts in Egypt, in the North Sea and in Russia, worth in excess of USD 1 billion. In Egypt, Burullus Gas Co. awarded Saipem the EPIC contract for new subsea developments in the area of the West Delta Deep Marine Concession, located 90km offshore the Northwest Nile delta, at water depths between 400 and 1000m. The development encompasses the engineering, procurement, construction and installation of a total of seven new subsea wellheads and relevant infrastructures, umbilicals and flowlines. Saipem has also been awarded contracts to operate in the Norwegian and British sectors of the North Sea, mainly relevant to the deployment of the Saipem 7000 vessel for platform transportation and installation, and to the deployment of the Castoro 7 vessel for the installation of subsea pipeline and structures. In Russia, Caspian Pipeline Consortium (CPC) awarded Saipem the contract for the expansion of the structures relevant to the CPC marine export terminal, near Yuhznaya Ozereyevka on the Black Sea shores in the Krasnodar region of the Russian Federation. The development includes the engineering, procurement and installation of a new offshore export pipeline for hydrocarbon transportation which will have a diameter of 42in and a length of 5km and for the installation of a new offshore mooring system for hydrocarbon export. Offshore activities will be performed in all areas during different periods in 2012 and 2013.

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