World of Oil ///

Saipem was awarded two offshore contracts, in Angola and in Italy, for a total value of approximately US$650 million. Esso Exploration Angola Ltd. awarded Saipem the lump-sum turnkey contracts for the tieback work for the Kizomba Satellites development in Angola Block 15. Saipem will be responsible for the engineering, construction, transport and installation of pipelines, umbilicals, risers and subsea systems connecting Mavacola and Clochas Fields to the existing FPSO units at Kizomba A and B. Offshore operations will be carried out in 2011 by the vessels FDS and Saipem 3000. A portion of the subsea equipment will be fabricated in Angola at Saipem’s Ambriz and Soyo yards. Additionally, Eni has awarded Saipem the lump-sum turnkey contract for offshore work in the Mediterranean Sea.

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