Saipem to establish a spoolbase in the US Gulf of Mexico

Saipem will establish a spoolbase on Greenwood Island, Pascagoula, Mississippi. Saipem has reached an agreement with Technip France SA. Saipem informed that, on that same date, the Tribunal of Algiers had pronounced a first instance judgment. Company serving as a highly specialized site designed to provide support for vessels performing pipelay activities. Saipem has been awarded two new contracts in Saudi Arabia, worth over USD 3.5 billion. Saipem, in Joint Venture with McDermott International and Chiyoda Corporation, has reached agreement with Area 1 Concessionaires.

The new facility will support the Saipem Constellation, the latest addition to the Saipem fleet. Saipem S.p.A. informs that the Board of Directors today appointed Stefano Cavacini. South Stream Transport B.V and SAIPEM S.p.A. have positively ended their negotiations signing an agreement. It suitable for the installation of rigid and flexible pipes in ultra deep waters. Saipem S.p.A. informs that Consob, with resolution no. 20828 notified to Saipem on March 12, 2019. The Judge for the preliminary hearing in Milan decided on the request filed by the Public Prosecutor.

The Saipem spoolbase is in a dedicated area within the facilities of ST Engineering. The project has been awarded by Arctic LNG2, a company formed by Novatek JSPC (60%). It had fined Saipem Contracting Algérie 4 million Algerian dinars. The two projects are encompassing engineering, procurement, construction and installation. Saipem, as involved in the project for a volume currently equal of about 6 billion USD. The spoolbase will be equipped with advanced welding machines. The contract has been executed by Anadarko Moçambique Area 1, Lda.

Giorgio Martelli, President and CEO of Saipem America Inc says “The spoolbase supports Saipem’s growth in the deepwater field development sector”.

Company settle the arbitration concerning the South Stream Offshore Pipeline Installation contract. It will also be structured to deal with complex projects such as pipe-in-pipe and HDPE liners. The first contract, “PKG-01 Expand Abu Ali Crude & KGP Gas Facilities” for the Berri field. The LNG project consists of the construction of two Natural Gas Liquefaction (LNG) trains. Saipem thanks Mariano Avanzi, who has held the position of Manager responsible for Financial Reporting. Leveraging the unique ability of the Saipem Constellation to lift fully loaded reels on-board.

It adopted the outcome of the sanctioning administrative procedure launched on April. The Judge for the preliminary hearing declared with respect to Saipem S.p.A. It comprises the detailed design, procurement, fabrication, construction, commissioning. It equal at the current exchange rate to around 30,000 euros. It concerns the expansion, through the installation of new process units. The EPC Contract is subject to a full Notice to Proceed which Anadarko is expected. 154-bis of Legislative Decree no. 58/1998, since June 7, 2016. Company allegedly responsible for the facts sanctioned by Algerian law.

Saipem is a leading company in engineering, drilling and construction of major projects in the energy and infrastructure. IT will be installed on Concrete Gravity Based Structures (GBS). Company taking advantage of the authority or influence of representatives of said company. It uses to identify solutions aimed at satisfying customer requirements. It can be consulted for all details), and which follows on from Consob resolution no. 20324. The expiry of the statute of limitation period and consequently declared time-barred with respect to Saipem.

Lim Nian Hua, President and CEO of ST Engineering says “We are pleased to be working with Saipem America on this exciting development within our facility in Pascagoula”.

It stalking and spooling process at the new spoolbase can be decoupled from vessel loading operations. Saipem is currently designing and building the GBS in the framework of the contract already announced. Company had decided to unfreeze two current bank accounts of Saipem Contracting Algeerie. It congratulate Anadarko and its co-venturers for the achievement. Company inform that Stefano Cavacini has no shareholdings in the Company. Saipem it is present in over 60 countries worldwide and has 32 thousand employees of 120 different nationalities.

It optimizing vessel and installation schedules. The new LNG trains will be realized in the Tazovsky district located in the autonomous administrative region. It had been frozen since 2010 in relation to the “Sonatrach 1” proceedings. The second contract, “Gas Treatment and Sulfur Recovery” related to the Marjan field. CVompany grateful for the confidence demonstrated toward our CCS JV. €150,000 against the manager responsible for drafting the Company’s corporate accounting. The Company is confident that the outcome of the proceedings, which is scheduled to begin.

It consolidating the importance of our activities in the Gulf of Mexico area. The contract will be executed under Lump Sum and Reimbursable basis. The Algerian Court of Cassation has fully overruled the decision. It locally-based approach and resident assets. The reasons for today’s judgement of the Algerian Court of Cassation are not yet available. Saipem’s spoolbase operations complement our regular activities of drill rig upgrades and ship repairs. Consob has dismissed the administrative proceedings launched on April 6, 2018.

This collaboration will leverage the capabilities of both parties to provide high standards of support to customers. The proceedings in question are described in the “Legal Proceedings” section. It will strengthen our presence in East Africa. Saipem reserves the right to appeal the aforementioned Consob resolution within the terms of the law. The awarding of new complex contracts testifies to the evolution of our historic relationship. Saipem has been assigned a share of the project worth approximately 2.2 billion Euro. It operating in the Gulf of Mexico.

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