For Saipem, Angola’s E&P drive has opened up new opportunities for the service company.
This year alone, Saipem has been making moves across the Angolan oil and gas sector with a number of contracts secured by the national oil company and global energy majors alike. August 2022 saw Saipem securing three engineering, procurement and construction contracts from Angola’s New Gas Consortium – comprising Azule Energy, Chevron, Sonangol and TotalEnergies. The contract involves the development of the Quiluma and Maboqueiro fields in the Lower Congo Basin, with the one onshore and two offshore contracts equating to $900 million.
Saipem will be conducting ECP work for the Angola Liquefied Natural Gas (ALNG) project, the biggest gas development in the country. At a time when Angola is looking to expand its gas market even further, companies such as Saipem will be key for getting sustainable project developments off the ground.
Meanwhile, in November 2022, Saipem announced that it has also secured a contract – awarded by Azule Energy – for the drilling, completion and testing of development and exploration wells in Block 15/06 offshore Angola. With the contract, Saipem will drill 12 firm wells over a 26-month period, with drilling expected to commence in 2023. These contracts represent just the start of Saipem’s work in Angola, and as the country expands its oil and gas market even further, Saipem, alongside other service companies, are expected to be key drivers.