finance

Italy's Saipem wins $1.1 billion contracts in Australia and Guyana



© Reuters. FILE PHOTO: A Saipem logo in seen on the bridge of the Saipem 10000 deepwater drillship in Genoa’s harbour, Italy, November 19, 2015. REUTERS/Alessandro Garofalo

MILAN (Reuters) – Italian energy services group Saipem said on Tuesday it had won two offshore contracts in Australia and Guyana for a total amount of $1.1 billion.

One of the contracts relates to the Scarborough gas field in the Carnarvon Basin, offshore Western Australia, for the export trunkline coating and installation of the pipeline that will connect the gas field with the onshore plant, Saipem said in a statement.

The contract was awarded by Scarborough Joint Venture, of which Woodside Energy Scarborough Pty Ltd owns 73.5%, with the remainder held by BHP Petroleum (Australia) Pty Ltd.

The second contract, signed with a subsidiary of Exxon Mobil Corp (NYSE:), is for the Yellowtail development project located in the Stabroek block offshore Guyana at a water depth of around 1,800 meters.

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