Saipem Wins $325mn Field Contract in Brazil

Italy's Saipem has won a contract worth $325mn for installing a rigid riser-based subsea system for the Buzios pre-salt oil and gas field off the coast of Rio de Janeiro, it said in a filing on the Italian stock exchange on July 6.

The scope of the work includes five production and five injection risers, 59 km of flowlines, a 16-km gas export pipeline connecting to the existing grid, 11 rigid jumpers and 21 foundation subsea structures. Saipem will use its field development ship for all of the subsea works.

Buzios was discovered in 2010 and started production in early 2018. Its fourth floating production storage and offloading unit starting flowing oil and gas last year. 

"Buzios is one of the world’s largest deepwater oilfields and it is very important for Saipem to contribute to such a significant project for Brazil, a country in which we have a long-established presence and track record of successfully-executed projects," the chief operating officer of Saipem's E&C Offshore division, Francesco Racheli, said in a statement. "“We look forward to working alongside Petrobras to further develop Brazil’s resources and ensure the safe and timely achievement of the field’s full production output."