Fagioli wins oil and gas contracts worth $97 million

By Alex DahmJanuary 21, 2021

Fagioli has won a trio of oil and gas contracts worth almost US$100 million Fagioli has won a trio of oil and gas contracts worth almost US$100 million

Italy-based international heavy lift and transport specialist Fagioli has won three oil and gas industry contracts worth a total of $97 million.

The contracts are for projects in Africa, Asia and the U.S. and will be done over the next three years, said Fabio Belli, Fagioli CEO. The one in Africa was awarded by a joint venture of some of the most important global players in the sector, Fagioli said. It will involve lifting, transport and project forwarding of modules and heavy equipment for the LNG plant.

The contract in Asia is to lift seven reactors, each weighing up to 2,200 tons, on a refinery modernization project in Thailand. Installation will be done using a system of “translating” lifting towers, designed by the Fagioli engineering department and made in-house. It will be the largest of its type in the world, Fagioli said.

The third contract was won by Fagioli’s Houston subsidiary. It will involve handling and installing process modules in Louisiana for the construction of a new gas liquefaction plant, one of the largest in the Gulf of Mexico.

Fabio Belli commented, “Fagioli’s 2020 turnover will reach about 200 million euros ($243 million), slightly up compared to 2019 ($237 million). An incredible result considering the health emergency that has affected all continents. A recognition of the value of ‘Made in Italy.’”

The company said 85% of its pending projects are outside Italy.

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