Saipem wins USD1 billion contract to support project offshore Angola

On Jun 22, 2026

(Alliance News) – Saipem Spa on Monday said it has been awarded a new USD1 billion contract for a project in Angola by subsidiaries of a joint venture owned by Eni Spa and BP PLC.

Saipem is a Milan-based company providing engineering services for the design, construction and operation of infrastructures and plants in the energy sector.

The new offshore contract has a duration of 40 months and relates to transportation and installation services to support the Greater PAJ oil project located approximately 200 kilometres off the coast of Angola.

The contract was awarded by Azule Energy Exploration (Angola) and Azule Energy Angola, both part of the Azule Energy joint venture between Milan-based Eni and London-based BP.

Eni announced the final investment decision for the project on Monday.

“Saipem’s scope of work entails the engineering, fabrication, transportation and installation of approximately 180 kilometers of rigid pipelines and subsea facilities, at a water depth reaching up to 2,000 meters. The contract also includes the transportation and installation of 38km of flexible flowlines and jumpers and 54 km of umbilicals,” Saipem explained.

Fabrication activities will be carried out at Saipem’s Ambriz yard in Angola and the company will deploy construction vessels FDS and Castorone.

Saipem shares closed up 0.1% at EUR4.49 each in Milan on Monday, while Eni closed down 0.3% at EUR21.58. BP shares closed marginally lower at 503.66 pence each in London.

By Elijah Dale, Alliance News senior reporter Asia-Pacific

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