Italian oil and gas contractor Saipem has agreed to purchase ultra-deepwater, heavy-lift and construction vessel Lewek Constellation for $275m.

The 3000t vessel, which was built in 2013, was previously owned by bankrupt EMAS Chiyoda Subsea.

Saipem said that the vessel is ready to be promoted for commercial opportunities.

The acquired vessel will be marketed in all geographic areas, including the Gulf of Mexico, as well as the North and Norwegian seas where its characteristics are suitable for submarine tie-backs.

Saipem CEO Stefano Cao said: “The Constellation is the latest addition to Saipem world-class fleet that will integrate our offering with Reeling capabilities in order to safely and competitively respond to the needs of the Subsea Tie-Back Market.

“Indeed, in the current economic scenario, the Subsea Tie-Backs developments are becoming increasingly important as they maximise the utilisation of the existing infrastructures at reasonable expenditures.

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By GlobalData
“This acquisition is part of our strategy aimed at fostering Saipem Subsea growth.”

“Saipem was only partially participating in this market. The acquisition of the Constellation bridges this gap, expanding the set of future opportunities.”

“This acquisition is part of our strategy aimed at fostering Saipem Subsea growth and will additionally contribute to enhance stronger relationships with our partner in the integrated SURF and SPS segment, and with the clients mostly active in this market.”

The Constellation is currently located in the Gulf of Mexico, near Galveston, US.

The Italian oil and gas contractor added that it will acquire the Constellation by partially utilising the available liquidity.

Saipem provides drilling services, as well as engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil and gas market.