- ”For Mozambique we are in constant discussion with the Total customer. The hypothesis, obviously depending on the evolution of the situation in the country, is that work can be resumed in the first half of next year ” said Saipem’s CEO and General Manager, Francesco Caio on the company’s Q2 2021 Earnings Conference Call held on July 30, 2021.
- The project in Mozambique remains in the order book as of June 30, 2021 for an amount of approximately 3.6 billion euros, with a reshaping of construction times.
On April 26, Total declared the force majeure on the LNG Mozambique project for security reasons. Read more
Saipem evacuated the site and continued to manage the residual part of the project activities outside the country, although not subject to suspension. Saipem also assessed in close cooperation with the customer the measures to preserve the value of the project and ensure a prompt restart of the works as soon as the safety conditions of the area are restored. Therefore, no significant contributions are expected from the project in the remainder of 2021, with the exception of the reimbursement of costs already incurred and to be incurred for the suspension and safety.
Author: Bryan Groenendaal
