Italian company Saipem awarded US$650 million contract for oil installations in Angola

29 July 2009

Rome, Italy, 29 July – The Italian oil installation manufacturer Saipem announced Tuesday that it had received new contracts worth US$65 million, including the ESSO Exploration Angola for development of the new Angolan off-shore field in Block 15.

The company said in a statement that the contract was for the development of the “Kizomba Satellites” project, around 145km west of Soya at a depth of up to 1,200km.

“Some of the submarine structures will be manufactured directly in Angola, at the Saipem facilities in Abriz and Soyo,” added the Italian press.

Activity will begin in 2011, with two ships.

Saipem was already involved in developing Kizomba fields A and B in 2000. (macauhub)