Saipem CEO and Managing Director Francesco Caio during the press conference after the release of the group’s data said:
“For Mozambique, we are in constant discussion with the client Total. The assumption, obviously depending on the evolution of the situation in the country, is that the work can be resumed in the first half of next year.”
On April 26, Total declared force majeure at the LNG Mozambique project for safety reasons. Saipem evacuated the site and continued to manage the residual part of the project’s activities outside the country, although not subject to suspension.
Saipem also assessed in close cooperation with the client measures to preserve the value of the project and ensure a rapid restart of construction as soon as safety conditions in the area were restored. Therefore, no significant project contributions are expected in the remainder of 2021, with the exception of reimbursement of costs already incurred and to be incurred for suspension and security.
The project in Mozambique remains on the order book on June 30, 2021 for an amount of approximately €3.6 billion – Saipem reports – with a reshuffling of construction times.
