Saipem exits Kazakh offshore fabrication facility

Photo of author

By starvox

Decisions: Saipem chief executive Alessandro Puliti. Photo: SAIPEM Saipem exits Kazakh offshore fabrication facility

Italian contractor had held 50% stake in Caspian yard since 2003

Оригинальный текст опубликован на сайте «Upstream», 13 September 2023 13:11 GMT . Автор: Vladimir Afanasiev Материал доступен по ссылке.

Saipem has quietly exited its long-term manufacturing venture in Kazakhstan, which it formed with a local partner in 2003 to compete for lucrative construction orders from the country’s largest offshore development, Kashagan.

Kazakh energy industry social network channel Energy Monitor said the Italian engineering contractor had parted with its 50% stake in Ersai Caspian Contractor, leaving Kazakh partner ERS Holdings holding the entire 100% interest.