This award has been granted to Saipem following the successful assessment of its tool based on criteria such as innovation and the environmental, social, and economic benefits.
The tool is named SOCE (Saipem Offshore Carbon Estimation).
Saipem emphasised its commitment to providing innovative solutions that meet the demands of a low-carbon future, according to the company’s strategy to be a global energy leader in making the future of markets sustainable.
As such, Saipem developed the new CO2 estimation tool with the aim of quantifying the carbon footprint of an entire EPCI (Engineering, Procurement, Construction, and Installation) project following the Life Cycle Assessment methodology.
One of the examples of Saipem’s efforts in reducing emissions includes an agreement with energy infrastructure operator Snam in 2020 to work together on new energy transition technologies, green hydrogen development, and CO2 capture and reuse.
Saipem has also entered into a collaboration with compatriot Eni for decarbonization projects in Italy in a push to reduce carbon intensity and achieve CO2 reduction targets.
Saipem further explained that this tool aims to estimate the overall CO2 emissions of a project in each phase, based on the actual performance of Saipem assets (engineering offices, vessels, and fabrication yards) and other processes such as procurement and transportation.
This information supports Saipem’s and its clients’ decision-making processes since it helps identify those activities with the largest impacts in terms of CO2 emissions, especially to demonstrate the environmental sustainability of projects, mainly the ones related to renewable energy.
In recent company news, Saipem was awarded a contract from Qatargas, worth approximately $1.7 billion.
The contract is for the development of the North Field Production Sustainability Offshore Project, located offshore Qatar.