Offshore contractor Saipem (MI: SPM) has bagged a deal with Equinor (OSLO: EQNR) for work on a North Sea pipeline project.
The Italian firm will install a 50 mile long cylinder that will tie in the production template of the Irpa field to the existing Aasta Hansteen platform.
To complete the work, slated to take place in 2025, Saipem will deploy its flagship vessel Castorone.
It comes days after Equinor, alongside partners Wintershall Dea and Petoro, confirmed a commercial gas discovery of up to 69.2 million barrels of oil equivalent (BOE) a few miles south of Irpa.
The Obelix Upflank discovery exploration wells were drilled by the Deepsea Stavanger drilling rig.
They are located just over 14 miles south of Irpa, and around 215 miles west of Sandnessjoen.
Saipem has also landed work, in partnership with Aker Solutions do Brasil, with TotalEnergies for the LAPA Southwest (LAPA SW) development project, a deepwater oilfield offshore Brazil.
The scope of work encompasses the Engineering, Procurement, Construction, and Installation (EPCI) of Subsea Umbilicals, Risers, Flowlines (SURF) as well as a Subsea Production System (SPS).
LAPA SW Development Project is the first ever integrated SURF and SPS project awarded by TotalEnergies.
Together, the two offshore contracts are worth around £728 million.
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