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2016-09-23 21:00:00

NEW SAIPEM'S CONTRACTS: $430 MLN

NEW SAIPEM'S CONTRACTS: $430 MLN

PE wrote, Saipem has been awarded new contracts and extensions to existing contracts in the onshore oil and gas drilling segment in the Middle East and South America. The awards have an overall value of $430 million.

In Saudi Arabia, Saipem has been awarded an extension of three years to drilling activities being carried out by ten 2000 HP drilling rigs. This enables Saipem to consolidate its presence in the strategic area of the Middle East, in which it currently has thirty onshore rigs and three offshore rigs. In the light of the particularly challenging market conditions, this represents a strong signal of confidence in Saipem and recognition of the high quality of the services it offers.

In South America, in addition to various extensions ranging in duration from two to twenty-four months for medium and high power rigs in Peru, Colombia, Bolivia and Chile, Saipem has also been awarded a new contract for operations in Argentina, which will be carried out by an hydraulic type rig over a period of eighteen months. This new award will enable Saipem to return to one of the largest onshore drilling markets in South America, whose positive growth prospects have seen it attract the interest of major international oil companies. Saipem's presence in Argentina will also enable it to further diversify geographically in the area.

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Earlier: 

SAIPEM CONTRACT: $1.5 BLN 

ENI SELLS SAIPEM: €6.5 BLN 

SAIPEM CUTS 8,800 

SAIPEM WINS $2 BLN 

ROSNEFT WANTS SAIPEM

 

 

 

Tags: OIL, GAS, DRILLING, SAIPEM

Chronicle:

NEW SAIPEM'S CONTRACTS: $430 MLN
October, 16, 11:50:00

SAUDI ARAMCO IPO

Saudi Arabia is considering delaying the international portion of the giant initial public offering of its state oil company until at least 2019, according to people familiar with the situation, who said a domestic share sale in Riyadh could still happen next year.

NEW SAIPEM'S CONTRACTS: $430 MLN
October, 16, 11:45:00

SAUDI'S BANKS ARE BETTER

But we expect a rise in the sector's NPL ratio and muted credit demand in the second half of 2017 and 2018, reflecting the slowing economy. GDP growth slowed to 1.4% in 2016 from 3.4% in 2015 and we expect it to be below 1% in 2017 and 2018.

NEW SAIPEM'S CONTRACTS: $430 MLN
October, 16, 11:40:00

OPEC EXPECTATION

The Organization of Petroleum Exporting Countries and allies including Russia have been cutting oil production this year to bring fuel inventories in industrialized nations back in line with the five-year average.

NEW SAIPEM'S CONTRACTS: $430 MLN
October, 16, 11:35:00

JAPAN LNG INVESTMENT

The Japanese government will offer $10 billion to support firms bidding to build liquefied natural gas (LNG) infrastructure around Asia, the Nikkei business daily said on Monday.

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