Saipem wins orders from Petrobras, PDVSA

Tuesday, October 28, 2008

Italian drilling company Saipem has won two contracts from Brazil's federal energy company Petrobras (NYSE: PBR) and its Venezuelan counterpart PDVSA.

Petrobras awarded a contract for the 174km Uruguá-Mexilhão gas pipeline, Saipem said in a statement.

Under the deal, Saipem will transport, install and test an 18-inch gas pipeline in Santos basin. The work is due to be finished in the first quarter of 2010.

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The pipeline will link the Cidade de Santos FPSO moored at the Uruguá field to the Mexilhão gas platform.

The PDVSA contract entails transporting and installing a 115km, 36-inch gas export line.

The pipeline links a platform in Venezuela's Dragon field to PDVSA's CIGMA complex on the southern side of the Paria peninsula.