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Saipem decommissioning contract in Middle East completed

Unique Group and Innovo completed the contract for Saipem's offshore platform in the region

Unique Group, Innovo has successfully fulfilled a decommissioning contract for EPC firm Saipem [representational image].
Unique Group, Innovo has successfully fulfilled a decommissioning contract for EPC firm Saipem [representational image].

Subsea and offshore service provider Unique Group, alongside Innovo, has completed a multimillion-dollar decommissioning contract for a key Middle East offshore platform belonging to Italian contractor Saipem.

In a statement, Unique said it worked with Innovo – an engineering, construction, and equipment rental company – to “meet the project’s requirements of providing bespoke equipment, which helped reduce operating times and ensured cost effectiveness of the project within a very tight schedule”.

The exact name and location of the decommissioned platform was not given.

READ: Saipem struggling in H1, despite Q2 offshore contract wins

Unique added: “Internal and external dredging tools, diamond wire cutting tools and internal cutting tools based on abrasive water jet technology, operating at 1,500 bar, were provided for the project, along with skilled operators to support the operation.”

Innovo’s team helped design, manufacture, and deliver this equipment in less than four months.

Unique said this fast turnaround “considerably helped Saipem to meet the operator’s deadline for kick-off operations, with the first step of the campaign completed safely and ahead of schedule”.

Speaking on the news, Stefano Malagodi, managing director of Innovo, said: “This project exemplifies Innovo’s and Unique Group’s capabilities in the decommissioning arena, where close collaboration, innovative engineering, tight project management and safe operations are paramount.”

READ: Financial chief of Italian contractor Saipem to depart in October

The project comes amid a difficult year for engineering, procurement, and construction firm Saipem.

Its latest financials in late October revealed it had slipped further into the red after a net loss of $409m for the nine month period ending 30 September.

While the firm experienced a net loss in this same period in 2017, the figure stood at a more palatable $65m.

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