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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
2018, June, 22, 13:10:00

THE LARGEST VENEZUELA'S OIL

U.S. EIA - Venezuela holds the largest oil reserves in the world, in large part because of the heavy oil reserves in the Orinoco Oil Basin. In addition to oil reserves, Venezuela has sizeable natural gas reserves, although the development of natural gas lags significantly behind that of oil. However, in the wake of political and economic instability in the country, crude oil production has dramatically decreased, reaching a multi-decades low in mid-2018.

NEW SAIPEM'S CONTRACTS: $430 MLN
2018, June, 22, 13:05:00

U.S. DEFICIT UP FROM $116.1 BLN TO $124.1 BLN

U.S. BEA - The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.

NEW SAIPEM'S CONTRACTS: $430 MLN
2018, June, 22, 13:00:00

EUROPE'S NUCLEAR INVESTMENT : €50 BLN

WNN - There are 126 operational power reactors in 14 EU Member States, providing more than one-quarter of the bloc's total electricity production. In its Communication on the Nuclear Illustrative Program (PINC) published last year, the European Commission expects nuclear to maintain its significant role in Europe's energy mix up to 2050. This would require investment of some EUR40-50 billion (USD46-58 billion) in nuclear LTO by 2050.

NEW SAIPEM'S CONTRACTS: $430 MLN
2018, June, 20, 13:15:00

OIL PRICE: ABOVE $75

REUTERS - Benchmark Brent crude LCOc1 was up 50 cents at $75.58 a barrel by 0835 GMT. U.S. light crude CLc1 was 50 cents higher at $65.57.

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