Saipem awarded two contracts offshore Libya totalling approximately Euro 685 million

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8 November 2002

Saipem, an Eni Company, announces the award of two major contracts offshore Libya for a total of approximately Euro 685 million. The award follows international tender submitted by major competitors.

Contract number 1
The first contract has a total value of approximately Euro 285 million and involves the laying of a 540 km, 32” diameter gas pipeline linking Mellitah, on the Libyan coast, to Gela, Sicily, at a maximum water depth of 1,160 metres. The contract has been awarded by Greenstream, a company jointly owned by the National Libyan Company NOC and Eni.

Pipelaying activities will be carried out during the second half of 2003 by the vessel Castoro Sei. The project is scheduled to be completed in June 2004.

Contract number 2
The second contract, with a total value of approximately Euro 400 million, comprises the project management, engineering, procurement, fabrication, transport and installation of two pipelines linking the “Sabratha” offshore platform, about 100 Km north of Tripoli, to Mellitah on the Libyan coast, in addition to fabrication and installation of auxiliary facilities. The contract has been awarded by Agip Gas, a company equally owned by the National Libyan Company NOC and Eni.

The project will be carried out by the vessel Castoro Sei during the first half of 2004 and will be completed in second quarter 2005.

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