Saipem wins $2 billion contract for offshore gas field in Indonesia

Saipem SpA

07/07/2026 06:51

ROME, July 7 (Reuters) - Italian energy contractor Saipem SPMI.MI said on Tuesday it had been awarded a contract worth around $2 billion for a Floating Production, Storage and Offloading unit for an offshore gas field in Indonesia's Kutei Basin. 

Here are some details:
Contract has been awarded to Saipem's subsidiary PT Saipem Indonesia, in a joint venture with PT Tripatra Engineers and Constructors
Eni North Ganal, a company controlled by Searah Ltd., the business combination company established by Eni ENI.MI and Petronas IPO-PETO.KL, has awarded the contract
The FPSO unit will be made for the Kutei North Hub Field Development Project, located in the Kutei Basin, East Kalimantan, Indonesia   
The project execution, with an estimated duration of 48 months, includes project management, detailed
engineering, procurement of materials, fabrication, construction and installation activities, as well as
commissioning and start-up of the FPSO unit 


 (Reporting by Alvise Armellini; Editing by Mrigank Dhaniwala)
 ((alvise.armellini@thomsonreuters.com;))