Petroleum Africa
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Wednesday, July 16, 2014
Saipem has scored $600 million in contracts out of Angola and Brazil. In Angola the company saw the award of a lease extension and operation contract for the Gimboa FPSO. The Gimboa FPSO is owned and operated by Saipem and has been under a lease and operation contract in Block 4/05 since 2006. The contract is extended to Q1 2017 and has a value of approximately $150 million.
In Brazil Saipem was awarded contracts for the extension of leasing and upgrading works of the Cidade de Vitoria FPSO. The Cidade de Vitória FPSO, owned and operated by Saipem, has been under a lease and operation contract to Petrobras since 2005. The contract has now been extended by four years, until 2022, as well as a contract for modification and upgrading of the leased FPSO vessel. The total value of the two contracts is approximately $450 million.
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