Saipem has been awarded two offshore contracts in Papua New Guinea and Vietnam for a total value of approximately US $450 million.

PNG LNG In Papua New Guinea, Saipem has been awarded by Esso Highlands Limited, an ExxonMobil company, the contract for the PNG LNG Offshore Pipeline Project EPC2. The scope of work will consist of the engineering, transportation and installation of a 407 kilometers-long 34" gas sealine, connecting the Omati River landfall point, on the southern coast of Papua New Guinea, to the onshore point located near the capital town of Port Moresby, on the southeastern coast of the Country, where a new LNG plant will be located.

The works also encompasses the shore approach excavation and backfilling at Port Moresby and the trenching and backfilling of a 75-kilometers section of the sealine at the Omati River landfall, 25 of which inside the Omati River, where Saipem will use its unique experience and expertise in post trenching methodology from Kashagan project in Caspian Sea.

Maximum water depth along the route is approximately 100 meters. Marine operations will be carried out by Semac 1 offshore vessel. The activities will be completed in the third quarter of 2012.

The project is part of ExxonMobil PNG LNG Project to develop gas and liquid hydrocarbon resources located in the southern highlands of Papua New Guinea with LNG exporting facility in Caution Bay, near Port Moresby.

Chim Sao Field Development In Vietnam, Saipem has been awarded the contract for the Chim Sao Platform and Pipelines Project by PTSC Mechanical and Construction. The contract, assigned in the framework of the development of Block 12W by Premier Oil Vietnam Offshore, encompasses the transportation and installation of one wellhead platform and of subsea pipelines, umbilical and PLEMs (pipelines end manifolds), in addition to the detailed engineering for infield pipelines.

The Chim Sao field is located about 300 kilometers off the southern coasts of the Socialist Republic of Vietnam, in approximately 95 m of water depth. Marine activities will be carried out mainly by Castoro 8 offshore vessel and will be completed in the second quarter of 2011.

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