Italy’s Saipem has awarded a contract to the Chinese shipyard China Merchants Heavy Industry (CMHI) to build an FPSO for TotalEnergies’ $6-billion Kaminho project, as reported by Upstream Online on Wednesday. CMHI has already initiated engineering work for the FPSO at its Nantong facility, following Saipem securing a dry dock slot.
This contract comes after TotalEnergies awarded Saipem three contracts worth $3.7 billion in May 2024 for the engineering, procurement, and construction (EPC) of the FPSO, along with related supplies and services, for the Kaminho project.
Previously known as Cameia-Golfinho, the Kaminho project represents the first major deepwater development in the Kwanza basin. The project involves converting a Very Large Crude Carrier (VLCC) into an FPSO, which will be connected to a subsea production network. Production is slated to commence in 2028, with an expected plateau of 70,000 barrels of oil per day (bopd).