Italian contractor Saipem has won two contracts for its floating production, storage and offloading vessels (FPSOs) in Brazil and Angola, worth a total of $600million.
The Brazil deal with Petrobras, worth around $450million, covers extension of leasing and upgrading works of Cidade de Vitoria FPSO, at Petrobras’ Golfinho Field, in Brazil’s Espirito Santo basin.
The lease, started in 2005, has now been extended by four years, until 2022.
The modification works on the vessel will increase its produced water treatment capacity and allow the connection of two additional gas wells with a high level of condensates by the first quarter of 2016, Saipem said.
The company has also been awarded a lease extension and operation contract for the Gimboa FPSO in Angola’s block 4/05 by Sonangol P&P.
The two-year lease extension until the first quarter of 2017 is valued at approximately $150million.