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PETROBRAS

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Delayed Bolsa de Valores de Sao Paulo  -  04:07 2022-07-01 pm EDT
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Saipem subsea drone for inspection of Shell and Petrobras fields in Brazil

05/25/2022 | 10:02am EDT

San Donato Milanese - Saipem has been awarded a contract by Shell and Petrobras for the utilisation of its FlatFish subsea drone in two pilot projects encompassing the inspection campaigns of two ultra-deepwater fields offshore Brazil, operated respectively by the two energy companies.

These two projects with Shell and Petrobras are pilots and fall within the framework of the research and development programme of ANP, the Brazilian National Agency of Petroleum, Natural Gas and Biofuels. The target is to qualify the drone to execute unmanned, vessel-free inspections to support the monitoring and maintenance campaigns of the subsea infrastructures.

In particular, Saipem implemented the FlatFish drone through the industrialization phase with the ultimate objective of unlocking deepwater operations, in over 2,000-meter depth for this particular contract, enhancing its artificial intelligence-based features as well as its navigation and monitoring capabilities.

The activities will be led by Sonsub, Saipem's centre of excellence for underwater technologies and robotics, over a timeframe of approximately 12 months: during the first phase intermediate tests in shallow water will be executed at Saipem's base in Trieste, Italy, with the support of Sonsub's engineering department in Brazil; the second phase will see the drone's deployment within Brazilian waters in the third quarter of 2022.

This contract award confirms Saipem's drive for technological development in subsea robotics and advanced automation and is an important cornerstone of its constant search for low-carbon, competitive and cost-effective solutions, which exemplify Saipem's commitment to sustainability.

FlatFish

FlatFish is a remotely-controlled subsea-resident autonomous underwater drone able to perform complex inspection tasks of a wide range of underwater assets. Since 2018, Shell has entrusted Saipem with the license to develop the FlatFish Technology.

The technology was previously developed by SENAI CIMATEC, a Brazilian research institute, in partnership with DFKI, the German Research Center for Artificial Intelligence, and funded by the R&D program of ANP (Brazilian National Agency of Petroleum, Natural Gas and Biofuels) and EMBRAPII (Brazilian Company of Research and Industrial Innovation).

Saipem is an advanced technological and engineering platform for the design, construction and operation of safe and sustainable complex infrastructure and plants. Saipem has always been oriented towards technological innovation and is currently committed, alongside its clients, on the frontline of energy transition with increasingly digitalised tools, technologies and processes that were devised from the outset with environmental sustainability in mind. It is listed on the Milan stock exchange and operates in over 70 countries around the world with 32 thousand employees from 130 different nationalities.

Contact:

Tel: +39 0244231

Email: media.relations@saipem.com

Web: www.saipem.com

(C) 2022 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
PETROBRAS 2.15% 28.53 Delayed Quote.0.28%
SAIPEM SPA 8.30% 2.767 End-of-day quote.-96.85%
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Financials
Sales 2022 570 B 107 B 107 B
Net income 2022 141 B 26 549 M 26 549 M
Net Debt 2022 219 B 41 146 M 41 146 M
P/E ratio 2022 2,34x
Yield 2022 46,2%
Capitalization 391 B 73 615 M 73 615 M
EV / Sales 2022 1,07x
EV / Sales 2023 1,16x
Nbr of Employees 45 532
Free-Float 64,4%
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 28,53 BRL
Average target price 42,63 BRL
Spread / Average Target 49,4%
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Managers and Directors
Caio Mario Paes de Andrade Chief Executive Officer & Director
Fernando Assumpção Borges President
Rodrigo Araujo Alves Chief Financial Officer
Gileno Gurjo Barreto Chairman & Executive Director-Exploration
Marcelo da Silva Carreras Head-IT & Telecommunications
Sector and Competitors
1st jan.Capi. (M$)
PETROBRAS0.28%73 615
SAUDI ARABIAN OIL COMPANY19.22%2 273 746
SHELL PLC30.23%187 772
PETROCHINA COMPANY LIMITED7.78%137 400
TOTALENERGIES SE12.37%133 242
EQUINOR ASA39.89%106 078