Total awards nearly $10B in contracts for Kaombo work

Energy group Total (TOT) has been busy awarding lucrative contracts since deciding Monday to go ahead with development of the Kaombo ultra-deep Angolan offshore project.

A consortium of Technip (TNHPF, TKPPY) and Heerema Marine is awarded a $3.5B contract for underwater engineering work; Technip CEO Thierry Pilenko says the project is the largest subsea contract ever awarded to the company.

Aker Solutions (AKKVF) earns a $2.4B contract for underwater pipeline fittings and equipment for vertical wells.

Saipem (SAPMY) is awarded two contracts with a combined value of more than $4B involving engineering, procurement and production as well as commissioning offshore and onshore work for FPSO projects.

TOT says the Kaombo field has estimated reserves of 650M barrels and should produce 230K bbl/day.

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