Saipem wins FPSO contracts in Brazil, Angola worth a total $600 million

July 15, 2014 | Angola, Contracts, Rigs & Vessels

Milan, Italy | –  Italian multinational oil services company Saipem said on Tuesday it had won contracts in Brazil and Angola worth a combined $600 million. Under the Brazilian contract, Saipem will lease its Cidade de Vitoria floating production storage and offloading (FPSO) vessel to Brazil’s state-owned oil company Petrobras for an additional four years and will also carry out work to upgrade the vessel.

Saipem, which is 43 percent owned by oil major Eni, was also awarded a lease extension and operation contract for the Gimboa FPSO in Angola, it added in a statement.