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2014-03-17 08:04:00

SAIPEM AWARDED € 2 B

SAIPEM AWARDED € 2 B

SAIPEM has been contracted by South Stream Transport B.V. for the construction of the first line of the South Stream Offshore Pipeline, from Russia to Bulgaria across the Black Sea, for a total value of approximately € 2 billion.

The South Stream Offshore Pipeline will consist of four parallel gas pipelines each 931 kilometres long and will be laid at depths of up to 2,200 meters.

Saipem will perform the installation design and will construct the entire first line plus the shallow water parts, the shore crossings, the landfall and the associated facilities for the four pipelines.

The pipeline construction will be carried out by Saipem 7000, the state of the art J-Lay vessel suitable for ultra-deep water that has already constructed the Blue Stream pipeline in the Black Sea, and Saipem's Castoro Sei, the S-lay vessel suitable for both shallow and deep waters which has already laid several trunklines, including the North Stream Pipeline.

Saipem 7000 offshore activities will commence at the end of 2014. In November 2014, the Castoro Sei vessel will move to Russian waters to start activities in the shallow water.

The construction of the first line will last until the third quarter of 2015 and the pipeline will be taken into operations by the end of that year.

South Stream Transport B.V. is an international joint venture between Gazprom (50%), Eni (20%), EDF (15%) and Wintershall (15%).

Tags: SAPIEM, SOUTH STREAM, GAS, GAZPROM, ENI, WINTERSHALL, EDF

Chronicle:

SAIPEM AWARDED € 2 B
November, 24, 09:15:00

SAUDI'S OIL FOR CHINA

BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.

SAIPEM AWARDED € 2 B
November, 24, 09:10:00

URALS QUALITY WILL DOWN

PLATTS - The quality of Russia's key Urals crude exports towards Europe will continue to fall next year as more of the country's low-sulfur oil flows are diverted eastward to China, Russian national oil pipeline operator Transneft warned.

SAIPEM AWARDED € 2 B
November, 24, 09:05:00

S.KOREA'S SOLAR UP

FT - OCI — the world’s third-largest polysilicon maker by capacity and South Korea’s biggest — this month reported a 3,373 per cent increase in operating profit to Won78.7bn ($72m) for the July-September quarter, its best performance in five years. Rival Hanwha Chemical saw third-quarter net profit jump 25 per cent to a record Won252bn. 

SAIPEM AWARDED € 2 B
November, 24, 09:00:00

U.S. RIGS UP 8 TO 923

U.S. Rig Count is up 330 rigs from last year's count of 593, with oil rigs up 273, gas rigs up 58, and miscellaneous rigs down 1 to 0. Canada Rig Count is up 41 rigs from last year's count of 174, with oil rigs up 13, gas rigs up 30, and miscellaneous rigs down 2 to 2.

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