Major Contracts & Procurement

Contract Architecture Overview

The Kaminho project's $6 billion total investment is distributed across a tiered contract structure. The largest contractor is Saipem, which holds three contracts totaling $3.7 billion — covering the FPSO, operations, and subsea work. Additional major contracts were awarded to SLB OneSubsea (subsea production system), Siemens Energy (power generation), and China Merchants Heavy Industry (FPSO conversion yard).

Saipem — Three Contracts ($3.7 Billion)

Contract 1 — FPSO EPC: Engineering, Procurement, Construction, Transportation, and Commissioning of the FPSO Kaminho. Saipem manages the overall FPSO conversion program, subcontracting the physical conversion to CMHI at Nantong, China. This includes topsides design, process systems integration, and marine outfitting.

Contract 2 — Operations & Maintenance: 12-year O&M contract for the FPSO with an 8-year extension option (total potential of 20 years). Saipem draws on its experience operating three other FPSOs in Angola. This long-term commitment provides revenue stability for Saipem and operational continuity for the consortium.

Contract 3 — SURF Package: Engineering, procurement, supply, construction, installation, pre-commissioning, and startup assistance for the SURF package — approximately 30 km of 8-inch and 10-inch subsea flowlines, risers, and umbilicals. Saipem fabricates associated structures at its Ambriz yard in Angola and deploys its FDS vessel for offshore J-lay installation.

SLB OneSubsea — Subsea Production System

SLB OneSubsea was awarded the 13-well Subsea Production System contract, including standardized vertical monobore subsea trees, wellheads, and controls systems. The two-phase system serves Cameia (Phase 1) and Golfinho (Phase 2).

Siemens Energy — Power Generation

In September 2024, Siemens Energy was awarded the contract to design, engineer, and supply an 80 MW power generation plant for the FPSO — ensuring reliable power for all onboard systems in the all-electric, zero-flaring design.

CMHI — FPSO Conversion Yard

China Merchants Heavy Industry (CMHI) at its Nantong facility is performing the physical conversion of the VLCC Alsace into the FPSO. CMHI secured a dry dock slot and commenced engineering work in mid-2024, with full conversion beginning in early 2025.

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