SAIPEM CONTRACT: $1.5 BLN
TO&GY wrote, Eni engineering and construction subsidiary Saipem on Thursday announced the award of offshore engineering and construction contracts with a combined value of more than USD 1.5 billion, including work related to the Zohr gasfield development project in Egyptian waters.
While not specifying an amount, Saipem noted that the Egypt contract award by Petrobel was its "most significant" one. The work awarded by the Eni-Egypt General Petroleum Corporation joint venture will see Saipem install trunklines and carry out engineering, procurement, construction and installation work on 6 wells and their umbilical systems in 1,700m of water. The company expects to fulfil the scope of its contract by the end of 2017.
"We will mobilize a fleet of vessels with last-generation capabilities, and leverage on our proven expertise and consolidated presence in the area, in order to ensure our clients achieve their targets," Saipem CEO Stefano Cao said in a press release. The company aims to deploy its Castorone pipelaying vessel, the semisubmersible pipelayer Castoro Sei and pipelay barge Castoro 10, among other vessels.
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LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.
BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.
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ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.