Saipem to invest US$18 million in RI

PT Saipem Indonesia, a local subsidiary of Italy?s oil and gas services firm Saipem SpA, plans to invest US$18 million to expand the production capacity of its Karimun Yard in the Riau Islands Province, Media Indonesia reported on Tuesday.

Set up in 2011, the Karimun Yard is a fabrication site for onshore and off shore oil and gas structures such as topsides, jackets, piles and integrated decks.

The paper quoted Public Relations officer of Saipem Singapore office, Riatna Jeo as saying that the capacity expansion was to anticipate the implementation of the company?s new oil and gas EPCI contracts. (*)