Oil & Gas DECODED
Previous edition: 20 May 2024
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Saipem secures $850m contract for offshore work in Angola
The contract is for the development of the Ndungu field, which is part of the Agogo Integrated West Hub project.
Energy industry services provicer Saipem has secured an $850m (£669.08m) contract from Azule Energy, a joint venture between bp and ENI.
The contract is for the development of the Ndungu field, which is part of the Agogo Integrated West Hub project, located approximately 180km off the coast of Angola.
It encompasses a comprehensive scope of work including the engineering, fabrication, transportation and installation of around 60km of rigid pipelines, subsea facilities at a depth of approximately 1,100m, flexible flowlines, jumpers and 17km of umbilicals.
Saipem's Ambriz yard in Angola will carry out the fabrication activities.
For the offshore installation campaign, Saipem plans to utilise its FDS vessel, which will be responsible for the transportation and laying of the rigid pipelines.
The company says that this project award reinforces its presence in Angola.
The Agogo Integrated West Hub project is located in offshore Block 15/06, which is operated by Azule Energy in collaboration with Sonangol P&P and SSI Fifteen.
In August 2023, Norwegian engineering company Aker Solutions was contracted by Azule Energy to provide subsea umbilicals for the Ndungu project.
Earlier this month, Azule Energy entered into a farm-in agreement with Rhino Resources Namibia, acquiring stake in an offshore oil block.
Upon completion, Azule will hold a 42.5% stake in Block 2914A (PEL 85) in the Orange basin offshore Namibia – a region that has witnessed several major oil discoveries since 2022.
The current contractor group for the block includes Rhino Resources as the operator with an 85% stake, the National Petroleum Corporation of Namibia (NAMCOR) with a 10% stake, and Korres Investments owning the remaining 5%.
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