Page 52: of Maritime Reporter Magazine (April 2014)

52 Maritime Reporter & Engineering News ? APRIL 2014 ity of 800 mD. The Þ eld is divided into two great blocks separated by an expres-sive normal fault, with oil gravity vary-ing from 18 - 22º API in Footwall Block and 28 - 30 ºAPI in Hanging wall Block. For development purposes the Þ eld is di- vided in four modules. Preparatory work began in the second half of 2010, while underwater installation operations began in the second half of 2012. Vergine said Saipem has invested heavily to make these new deals in Brazil possible. ?Let?s look at Brazil. A closed market where the discovery of big offshore oil Þ elds has created huge perspectives. To enter that market we Þ rst closed small deals and now we?re negotiating on a completely different basis.? Since 2012, Saipem has been operating the MV Castorone, a pipelay vessel with an overall length of 330 m (1,082 ft), ex-cluding stinger and DP 3 capable. The Castorone was classed by ABS and is also Ice classed, capable of berthing 700. The Castorone is currently the larg- OFFSHORE OIL & GAS ANNUAL Saipem Finances2013 (restated in accordance with CONSOB indications)Revenues: ?12,256 million EBIT: ?147 million Net pro Þ t: - ?159 million 2013 (pro-forma consistent with 2013 reporting)* Revenues: ?12,011 million EBIT: - ?98 million Net pro Þ t: - ?404 million Investments: ?908 million (?1,015 million in 2012) Net debt: ?4,707 million (?4,278 million at 12/31/2012) New contracts: ?10,653 million (?13,391 million in 2012) Backlog: ?17,514** million at 12/31/13) (?19,739 million at 12/31/2012) New contracts awarded in January and February 2014: ? 800 million Guidance for 2014 Revenues: ?12.5 to ?13.6 billion EBIT: ?600 to ?750 million Net pro Þ t: ?280 to ?380 million Investments: approx ?750 million * Data ?consistent with 2013 report- ing? do not include the effects of Con- sob restatement. ** Excluded from backlog: ?72 mil- lion for Perro Negro 6, ?795 million for FPSO Firenze.Saipem CTCO location in center of photo.(Photo Saipem)MR #4 (50-55).indd 52MR #4 (50-55).indd 524/5/2014 3:23:38 PM4/5/2014 3:23:38 PM