Saipem has officially received the final award for two major offshore projects aimed at advancing the United Kingdom’s net-zero ambitions. The Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZT) projects, valued at approximately €650 million, will focus on the development of offshore facilities for the transportation and storage of CO2 within the East Coast Cluster. These projects are expected to span 30 months.
The announcement follows a letter of intent signed by Saipem on March 15. The NEP project was awarded by Net Zero North Sea Storage Limited, a joint venture between bp, Equinor, and Total Energies. Meanwhile, the NZT project was granted by Net Zero Teesside Power Limited, a partnership between bp and Equinor.
The final award came after successful completion of regulatory approvals and positive Final Investment Decisions (FID) from both the clients and the UK government.
Saipem’s role includes the Engineering, Procurement, Construction, and Installation (EPCI) of 143 km of 28-inch offshore pipeline for the NEP project, as well as the EPCI of the water outfall for the NZT project. Offshore installation will be conducted using Saipem’s flagship vessel, Castorone, while nearshore operations will be carried out by the Castoro 10, a shallow-water pipelay vessel.
Once completed, these projects will support the creation of the first zero-emission industrial hub in Northeast England and play a crucial part in the UK’s Net Zero targets by enabling the transportation and storage of approximately 4 million tonnes of CO2 per year starting in 2028.
