December 23, (THEWILL) – Italian oil services giant, Saipem, in partnership with KOA Oil & Gas and AVEON Offshore, has won a major offshore contract from Shell Nigeria Exploration and Production Company Limited.
The project, part of the Bonga North development, is valued at approximately $900 million. It forms part of an overall contract worth about $1 billion.
The project involves the tieback of wells to the existing Floating Production, Storage, and Offloading vessel, Bonga.
Saipem’s responsibilities include the Engineering, Procurement, Construction, and Installation of risers, flowlines, subsea umbilicals, and associated subsea structures
“This contract reinforces Saipem’s leadership in deepwater projects, particularly in West Africa, where we have been active since the 1960s,” the company said, adding that Design and fabrication activities will be carried out locally with Nigerian suppliers and subcontractors.
Located in Oil Mining Lease 118 at depths exceeding 1,000 meters, the Bonga North development follows Shell’s final investment decision earlier this month.
The Bonga FPSO has been operational since 2005, with a production capacity of 225,000 barrels of oil per day. The field reached a milestone of producing its one-billionth barrel of crude oil in 2023.
Listed on the Milan Stock Exchange, Saipem is a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, both offshore and onshore.
The company has 6 fabrication yards and an offshore fleet of 21 construction vessels (of which 17 are owned and 4 are owned by third parties and managed by Saipem) and 15 drilling rigs, of which 9 are owned.
Felix Ifijeh is a journalist with years of professional reporting experience. Known for his keen news sense, compelling storytelling and commitment to accurate, impactful reporting, he has built a reputation for turning leads into clear, engaging, and well-structured reports that resonate with readers. His work reflects deep newsroom experience and a commitment to accurate, impactful journalism.
