September 4, 2015 - Saipem, through the subsidiary Petrex SA Chilean Branch, has been awarded an engineering and construction contract by the Chilean state company Corporacion Nacional del Cobre de Chile (CODELCO), one of the largest copper manufacturers in the world. The deal covers the development of a water pipeline and all the structures associated with it, including the pumping stations. The pipeline, 160km in length, will reach 3,000 meters above sea level and will be used to improve the extraction capacity within the Radomiro Tomic copper mine, 1,670 km from Santiago in Chile. The project, worth about $560 million, will develop in two phases. The first is engineering, the second covers procurement and construction, and will begin once the project has been approved and the environmental permits obtained. (Red)

SAIPEM
Saipem works in oil & gas related activities in remote and deepwater areas, and is a leading provider of engineering, procurement, project management and construction services with distinctive capabilities in the design and execution of large scale offshore and onshore projects. Sapiem also offers technology services such as gas monetization and heavy oil exploitation. The company started operating in the 1950s, accumulating for two decades competencies in onshore pipe laying, plant construction and drilling, operating initially as Eni’s division, and later as a stand-alone company. Saipem finally became independent in 1969.