Saipem, an Italian company providing engineering, drilling, and construction services, has clinched a substantial contract worth approximately $1 billion. This contract involves partnering with Mellitah Oil & Gas Libyan Branch, a consortium jointly established by Libya's National Oil Corporation and Eni North Africa, to execute a gas project off the coast of Libya.

Under the agreement, Saipem will take charge of the Bouri Gas Utilisation Project (BGUP), which encompasses the revitalization of platforms and facilities at the Bouri gas field. Nestled in water depths ranging from 145 meters to 183 meters, this initiative is expected to play a pivotal role in reducing CO2 emissions within Libya.

The extensive scope of the contract includes the engineering, procurement, construction, installation, and commissioning (EPCIC) of a gas recovery module (GRM) weighing around 5,000 tons. This module will be integrated onto the existing DP4 offshore facility. Additionally, Saipem will oversee the installation of 28 kilometers of pipelines linking the DP3, DP4, and Sabratha platforms.

The Saipem 7000 semi-submersible crane vessel will spearhead the major lifting operations associated with this project. The BGUP serves as an expansion venture related to the Bouri field, a part of Block NC-41 situated 120 kilometers north of Libya's Mediterranean coast.

Highlighting the significance of this achievement, Saipem emphasized its continued dedication and competitive prowess in offshore activities within the Libyan region. This accomplishment comes on the heels of Saipem securing two contracts in Romania and Germany, collectively valued at approximately €1.8 billion, which equates to roughly $1.97 billion."