Saipem, in partnership with two Nigerian companies, KOA Oil & Gas and AVEON Offshore, has secured an offshore contract valued at approximately $1 billion from Shell Nigeria Exploration and Production Company Limited (SNEPCo).
This collaboration marks a critical step forward in the Bonga North Project, a deepwater oil and gas initiative located 130 kilometers off the Nigerian coast.
According to a statement released by Saipem, the contract encompasses the Engineering, Procurement, Construction, and Installation (EPCI) of risers, flowlines, subsea umbilicals, and associated subsea structures.
Saipem’s share of the deal is estimated at $900 million, while the design and fabrication activities will integrate contributions from Nigerian suppliers and subcontractors, underscoring a commitment to local content development.
According to Saipem, “The project is related to the tieback of wells to the existing FPSO. Saipem’s scope of work encompasses the Engineering, Procurement, Construction and Installation (EPCI) of risers, flowlines, subsea umbilicals, and associated subsea structures.
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“Design and fabrication activities will be carried out locally, also involving Nigerian suppliers and subcontractors,” the company stated.
Recall President Bola Tinubu, had last week, welcomed the FID by Shell and its partners for the Bonga North Deep Offshore Field.
According to a statement by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, “the landmark development” marks Nigeria’s first deepwater oil venture in over a decade.
