SAIPEM WINS $1.8 B
Italian oil services company Saipem SpA said Wednesday it has been awarded a contract worth about $1.8 billion for engineering and construction work on a large natural gas field off Azerbaijan.
BP awarded the contract on behalf of the Shah Deniz consortium for the second stage of the large natural gas field, located 90 kilometers off Azerbaijan, that will supply Turkey and the European Union, Saipem said in a statement.
Saipem is part of a consortium with Bos Shelf and Start Gulf, it said. The contract, which includes laying more than 360 kilometers of pipelines, is scheduled to be completed by the end of 2017.
This deal follows Tuesday's announcement that Saipem has won a 400 million euros ($552 million) contract for construction works to the second line of the OAO Gazprom led South Stream offshore pipeline that aims to bring Russian gas via the Black Sea to the EU, bypassing Ukraine.
The works related to the construction of the South Stream second line is scheduled to be completed by the end of 2016.
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.