Saipem wins contracts worth 850 mln euros in Ivory Coast, Italy

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MILAN, (Reuters) – Italian energy services group Saipem SPMI.MI has won two contracts for offshore activities in Ivory Coast and Italy worth a combined 850 million euros ($911.20 million), announced.

The first contract falls under the development of the Baleine oil and gas field in deep waters off the west African country and envisions the construction of rigid lines, flexible risers, jumpers and umbilicals connected to a dedicated floating unit.

Installation works for the project, which was awarded by energy giant Eni , will take place in 2024, Saipem said.

Under the second contract awarded by Snam Rete Gas, the group will build the docking and mooring facilities for a Floating Storage and Regasification Unit (FSRU) in the Adriatic Sea near the city of Ravenna.

The FSRU in Ravenna, which is yet to start operations, is one of two floating liquefied natural gas (LNG) terminals set to help Italy diversify its gas sources after and boost storage capacity.

Italy’s gas supplies came mainly from Russia prior to last year’s invasion of Ukraine, and LNG terminals have become part of Rome’s strategy to seek alternative energy sources.

Deliveries by ship of LNG are reliable source of energy that could cover 50% of the country’s gas needs, Italy’s Environment Minister Gilberto Pichetto Fratin said in June.

($1 = 0.9328 euros)

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