Italy's Saipem Signs Contracts for $380 Million

By Marc Navarro GonzalezFeaturesDow Jones Newswires

Saipem SpA (SPM.MI) has signed several contracts for onshore and offshore projects valued around $380 million.

The Italian oil-and-gas contractor said Friday that it has signed a contract with Eni Angola SpA to help develop the Vandumbu field in Angola at depths ranging from 1,300 to 1,500 meters.

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Saipem said it will also install a compression platform in the Gulf of Mexico on behalf of Dragados Offshore de Mexico SA.

The rest of the contracts have been awarded in Norway, the Arabian Gulf, Kazakhstan, Romania, Argentina and Bolivia, Saipem said.

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(END) Dow Jones Newswires

December 22, 2017 13:03 ET (18:03 GMT)