Saipem begins offshore works for GranMorgu project in Suriname

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Saipem has started offshore operations for the GranMorgu project in Suriname, with the Normand Navigator construction vessel moored at Jules Sedney Harbour in Paramaribo. This marks the first phase of activity at Suriname's inaugural large-scale offshore oil development, located in Block 58 about 150 kilometers offshore. The project is managed by TotalEnergies with a 40% stake, alongside APA at 40% and Staatsolie at 20%, and production is scheduled to begin in 2028. Saipem's contract covers engineering, procurement, supply, construction, and installation of the subsea umbilicals, risers, and flowlines system, plus pre-commissioning and support during commissioning and start-up at water depths from 100 to 1,100 meters. The company has set up a logistics hub of 30,000 to 40,000 square meters at Jules Sedney Harbour and is using the DORDT marine support base in Paramaribo for heavy subsea structures. Separately, Brazil's antitrust authority CADE has approved without restrictions the proposed merger between Saipem and Subsea7, though the decision can be appealed and major oil companies including ExxonMobil, Petrobras, and TotalEnergies have opposed the merger. Additionally, Saipem secured a new contract in Angola from Azule Energy Exploration and Azule Energy Angola, subsidiaries of an Eni and bp joint venture, valued at 1 billion dollars for transportation and installation services for the Greater PAJ ultra-deepwater project.