Saipem has entered into an agreement to acquire the Ultra Deepwater Rigid and Flexible Pipelay, 3000 ton Heavy Lift and Construction Vessel Lewek Constellation.
The new acquisition will be used within the North Sea and Gulf of Mexico for subsea tie-back work.
The vessel was purchased for £194million through the ‘partial utilisation of available liquidity’.
Stefano Cao, chief executive Officer of Saipem, said: “We are pleased to announce this acquisition. The Constellation is the latest addition to Saipem world class fleet that will integrate our offering with Reeling capabilities in order to safely and competitively respond to the needs of the Subsea Tie-Back Market.
“Indeed, in the current economic scenario, the Subsea Tie-Backs developments are becoming increasingly important as they maximise the utilisation of the existing infrastructures at reasonable expenditures. Saipem was only partially participating in this market. The acquisition of the Constellation bridges this gap, expanding the set of future opportunities.”
“This acquisition is part of our strategy aimed at fostering Saipem Subsea growth and will additionally contribute to enhance stronger relationships with our partner in the integrated SURF and SPS segment and with the clients mostly active in this market”.