Saipem, through its subsidiary PT Saipem Indonesia, in joint venture with PT Tripatra Engineers and Constructors, has been awarded a contract for the Engineering, Procurement, Construction and Installation (EPCI) of a Floating Production, Storage and Offloading (FPSO) unit for the “Kutei North Hub Field Development Project”, located in the Kutei Basin, East Kalimantan, Indonesia. The contract, valued at approximately USD 2 billion for Saipem’s share, has been awarded by Eni North Ganal, a company controlled by Searah Ltd., the business combination company established by Eni and Petronas.
The project execution, with an estimated duration of 48 months, includes project management, detailed engineering, procurement of materials, fabrication, construction and installation activities, as well as commissioning and start-up of the FPSO unit.
The Kutei FPSO project is part of the Kutei North Hub Development, which comprises a subsea development tied back to a new FPSO, a dedicated gas export pipeline to the Bontang LNG Plant and domestic gas users via the existing East Kalimantan System.
This award further strengthens Saipem’s positioning in the floating production segment, leveraging its unique combination of engineering and local fabrication capabilities, as well as its well-established expertise in fast-track project execution.