Saipem FPSO gets extension contract in Angolan waters

FPSO-darrenb- hillman-flickrThe total value of the contracts in Angola and Brazil is US$600mn. (Image source: Darren B Hillman/Flickr)Saipem has been awarded a two-year extension and operation contract for its Gimboa floating production storage and offloading vessel (FPSO) offshore Angola for US$150mn

The contract by Sonangol P&P has been extented to Q1 2017 for the Gimboa FPSO lease and operation contract that has been operational in Block 4/05 since 2006.

The company has been also won a four-year extension to the Cidade de Vitória FPSO lease contract at Petrobras’ Golfinho Field in Brazil’s Espirito Santo Basin, as well as a contract for modification and upgrading of the leased FPSO vessel. The total value of the two contracts is approximately US$450mn.

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