08 Mar ITC Global to fund ultra-deepwater project in Africa
ITC Global said today that it has been granted a multimillion dollar contract to supply remote offshore communications to two floating production, storage and offloading (PSO) vessels in Western Africa.
ITC Global, a provider of satellite communications to remote and harsh environments, was awarded the seven-year long contract by Saipem (BIT:SPM), an Italian oil and gas contractor.
The contract is worth US$6.5 million and is going to be a part of the Kaombo Field Development Project in Angola. The project is dedicated to expand oil deposits spread across six different fields with depths of 1,400 – 1,900 metres.
Saipem was given installation, commissioning, and operation and maintenance service contracts for the FPSO vessels. The vessels are owned by Total (LON:TTA).
Joe Spytek, ITC Global’s CEO, said “This award speaks to ITC Global’s reputation for delivering reliable communications for highly complex projects in key geographic regions for our customers across the oil and gas sector.
“It’s a great example of what ITC Global can do in the current market environment in terms of partnering with a customer to understand their long-term requirements and developing a solution that still delivers more bandwidth and better performance while providing significant cost efficiencies.”
ITC Global announced in December that it was given multiple offshore communication projects for separate vessels functioning in Angola, Democratic Republic of Congo, and Equatorial Guinea.