Saipem wins contracts worth $1.1 billion in Brazil, Angola, Russia

10/22/2012

Saipem wins contracts worth $1.1 billion in Brazil, Angola, Russia

BY LIAM MOLONEY

MILAN -- Saipem, Europe's biggest oil services company by market value, said it has won offshore engineering and construction contracts worth a total of $1.1 billion in Brazil, Angola and the Caspian Sea.

In a statement, Saipem said it was given a contract by Petrobras for the Sapinhoa Norte and Cernambi Sul projects in the development of the pre-salt risers in the Santos Basin. In Angola, the Eni-controlled company received a contract from Total for the Girassol Resources Initiatives project in Block 17. In the Russian sector of the Caspian Sea, Lukoil awarded Saipem a contract in the Vladimir Filanovsky field.

Dow Jones Newswires

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