Saipem, through its subsidiary PT Saipem Indonesia, in joint venture with PT Tripatra Engineers and Constructors, has been awarded an Engineering, Procurement, Construction and Installation (EPCI) contract for a Floating Production, Storage and Offloading (FPSO) unit for the Kutei North Hub Field Development Project 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, with an estimated execution period of 48 months, covers project management, detailed engineering, material procurement, fabrication, construction, installation, commissioning, and start-up of the FPSO unit.
The Kutei FPSO forms a key part of the Kutei North Hub Development, which includes a subsea production system tied back to the new FPSO, along with a dedicated gas export pipeline connecting to the Bontang LNG Plant and domestic gas consumers through the existing East Kalimantan System.
This contract further reinforces Saipem’s position in the floating production sector by leveraging its integrated engineering capabilities, local fabrication expertise, and proven track record in delivering complex fast-track projects.
Source: Saipem