Shell awards $1 billion contract for Bonga North Project to Saipem led consortium

Italian oil services giant, Saipem , in consortium with Nigerian firms KOA Oil & Gas Limited  and Aveon Offshore Limited, has been awarded a new offshore contract by Shell Nigeria Exploration and Production Company Limited (SNEPCo) for the $5 billion Bonga North Project, relevant to the development of the Bonga deepwater oil field, 130 km off the coast of Nigeria. The overall value of the contract is about $1billion,  with Saipem’s share amounting to approximately $900 million.

Recall that Shell recently  announced its FID decision in connection with the Bonga North Project.

_________________________

𝗦𝗦&𝗖 𝗜𝗻𝘁𝗿𝗮𝗹𝗶𝗻𝗸𝘀 powers strategic financial deals with unmatched security and efficiency – from M&A virtual data rooms and syndicated lending to fundraising,investor onboarding, fund reporting and more.

Learn more: mlslegal.co/ssc-intralinks

___________________________

As part of the contract with  SNEPCo, Saipem will deliver the engineering, procurement, construction, and installation (EPCI) of risers, flowlines, subsea umbilicals, and associated subsea structures for the Bonga North Project.

The project involves the drilling, completion, and startup of 16 wells (8 production and 8 water injection wells), upgrades to the existing Bonga Main Floating Production Storage and Offloading (FPSO), and the installation of new subsea infrastructure tied back to the FPSO.

Bonga North project will be connected to the Shell-operated Bonga FPSO facility.