BW, Saipem starting early work for Gato do Mato development offshore Brazil
June 15, 2022
BW Offshore has issued a "limited notice to proceed" to Saipem for early engineering services for an FPSO for Shell’s Gato do Mato development offshore Brazil.
Copyright Robert Rosa; courtesy Shell
The Espirito Santo FPSO works for Shell's deepwater project in the Parque das Conchas Field offshore Brazil.
Offshore staff
SAN DONATO MILANESE, Italy— BW Offshore has issued a "limited notice to proceed" (LNTP) to Saipem for early engineering services for an FPSO for Shell’s Gato do Mato development offshore Brazil.
The oil and gas field is about 200 km in the Santos Basin in a water depth close to 2,000 m.
Saipem’s estimates its share of the LNTP at about $25 million. It has already mobilized a team for the initiative.
Under a consortium with BW, Saipem expects to secure an EPCI/lease and operate contract for the FPSO, with delivery anticipated in 2026.
The award remains subject to the parties finalizing the contract’s commercial and pricing terms, in light of current supply chain inflation pressures, and final investment decision on the project by Shell and its partners.
