Saipem won a 4-year contract extension from Petrobras for its Cidade de Vitória floating production, storage, and offloading (FPSO) vessel in the Petrobras-operated Golfinho field in Brazil’s Espirito Santo basin. Saipem also secured a contract for modification and upgrading of the FPSO. The contracts’ value is USD 450 million, extending them until 2022. In Angola, Saipem won a 2-year extension (through first-quarter 2017) from Sonangol for its Gimboa FPSO, which has been under a lease and operation contract in Block 4/05 since 2006. The extension is valued at approximately USD 150 million.