Saipem will provide offshore activities related to the Argos floating production unit. Credit: BP.

Italian oilfield services company Saipem has secured two new contracts, worth around $700m (€637m) in total, from Eni Congo and bp.

Eni Congo has selected Saipem to convert the Scarabeo 5 semisubmersible drilling unit into a separation and boosting plant floating production unit (FPU).

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The FPU semisubmersible production platform will be equipped to receive the production fluids from wellheads riser platforms and subsequently separate the gas from liquids. The platform will boost the gas to feed the nearby floating liquefied natural gas (LNG) unit.

Earlier this year, Saipem signed an agreement with Eni Congo for the preliminary engineering and procurement activities including the engineering, procurement, construction, transportation and commissioning of the FPU.

The FPU is due to be installed offshore the coast of the Republic of Congo, north-west of the Djeno Terminal.

Saipem plans to commission offshore works and launch the FPU by the fourth quarter of 2025.

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The contract forms part of Eni’s Congo LNG Project, which is expected to be the country’s first natural gas liquefaction project.

Scheduled to be commissioned in 2025, it will have LNG production capacity of three million tonnes per year.

Furthermore, Saipem will provide offshore activities related to the Argos FPU for bp.

Located in Green Canyon Block 780, at approximately 1,400m water depth, the FPU is designed for the production of oil and gas in deepwater environments.

Saipem plans to use the Saipem Constellation vessel to undertake the marine activities needed for the project.

The company will manage the project from its execution centre in Houston.

“This contract represents a significant milestone as it will be the first project involving the deployment of the Saipem Constellation in the Gulf of Mexico and follows a series of awards for projects in Australia and Guyana,” Saipem said in a statement.