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Saipem Bags Multimillion Dollar Baltic Pipe Deal

Saipem Bags Multimillion Dollar Baltic Pipe Deal

 

Saipem revealed Monday that it has been awarded a multimillion-dollar contract by GAZ-SYSTEM S.A. for the Baltic Pipe Project.

The contract, which is worth approximately $306 million (EUR 280 million), includes the construction of approximately 170 miles of concrete-coated pipeline between Denmark and Poland in a water depth between 13 and 187 feet.

The deal also contains microtunneling and civil works activities in Denmark and Poland, extensive rockdumping as well as pre and post-lay trenching and backfilling activities. Works under the contract will commence “immediately”, according to Saipem.

“This new contract, assigned thanks to our solid track record in pipeline installation projects and arriving at a critical moment for the energy industry worldwide, will help ensure the continuity of European gas supply and reinforces Saipem’s presence in a such a highly strategic area,” Francesco Racheli, Saipem COO E&C Offshore Division, said in a company statement.

“We look forward at swiftly and successfully delivering this important project,” Racheli added.

The Baltic Pipe Project is a strategic gas infrastructure project with the goal of creating a new gas supply corridor in the European market, according to the project’s website. The project is being developed in collaboration between Danish gas and electricity transmission system operator Energinet and Polish gas transmission system operator GAZ-SYSTEM.

Saipem describes itself as a leading company in engineering, drilling and construction of major projects in the energy and infrastructure sectors. Listed on the Milan Stock Exchange, it is present in over 70 countries worldwide and has 32,000 employees from 120 different nationalities.

Back in February, Saipem revealed that it had been awarded several EPCI contracts in various countries worth over $500 million. In December last year, Saipem said it had been awarded new contracts and extensions on existing contracts in onshore drilling and offshore drilling worth approximately $1.7 billion.

Source: Rigzone

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Published: 04-05-2020

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