Saipem: Results for the Third Quarter and the First Nine Months of 2019
The Board of Directors of Saipem S.p.A., chaired by Francesco Caio, yesterday approved the Saipem Group’s Interim Report at September 30, 2019 (not subject to audit). Highlights New contracts: significant new contract awards, with value in excess of €13.9 billion at September 30, 2019; this amount rises to €16.2 billion …
Saipem: Wins $145m Contract in Azerbaijan
Saipem, in consortium with Boshelf LLC and STAR GULF FZCO, has recently been awarded three new contracts by BP for the development of the Azeri-Chirag-Gunashli oil and gas (ACG) field offshore Azerbaijan. Saipem has been a key contractor in this field since the 1990s. Located in the Caspian Sea at …
Saipem and Renaissance Seal $2.5 bln Arctic LNG 2 Contract
Italian oil and gas industry contractor Saipem has secured a €2.2 billion ($2.5 billion) contract for Russian Novatek’s Arctic LNG 2 project. In a joint venture with Renaissance, a Turkish oil and gas services company, Saipem has been awarded an onshore engineering and construction project to build three liquefaction trains with …
Aker Solutions and Saipem: To Form Joint Working Group on Targeted Subsea Projects
Aker Solutions and Saipem agreed to cooperate on targeted subsea oil and gas development projects worldwide. The companies will through a joint work group identify opportunities where they can create value for customers by combining Aker Solutions‘ capabilities in subsea products and technologies with Saipem’s assets and expertise in engineering, …
Saipem: Receives South Stream Termination for Convenience Contract Notice
Saipem informs that late in the evening of July 8th it received notification of the termination for convenience of the South Stream BV contract. The termination for convenience is a standard contractual clause which provides for the termination of the agreement in the absence of a contractual breach, with compensation …
ShawCor Provides Update on the South Stream Offshore Pipeline Project
In December 2014, ShawCor Ltd. announced the suspension of the majority of the work on its South Stream Pipeline contracts with Europipe GmbH and Marubeni Sumitomo Consortium (with a combined value of approximately US$100 million) and with Saipem SpA (with a value of approximately C$30 million). ShawCor announced today that …
Saipem: Yet to Receive Formal Notice of South Stream Cancellation
With reference to the contract for the construction of the South Stream pipeline, Saipem notes the statements made by the Russian authorities and Gazprom’s chairman in the media. Saipem states that it has not received any formal notice of termination of the contract from the client, South Stream Transport BV. …
Kashagan Restart Slips to Optimistic Summer of 2016
Kazakhstan’s giant Kashagan oilfield may resume production in the first half of 2016 under an “optimistic scenario”, Kazakh Oil and Gas Minister Uzakbai Karabalin said on Wednesday, putting off his earlier estimate of the restart date. Production from the oil deposit in the Caspian Sea, one of the world’s biggest …
Rosneft President Igor Sechin meets Eni CEO Paolo Scaroni
Rosneft President Igor Sechin and Eni CEO Paolo Scaroni have met in Rome to discuss the progress of joint projects between the two companies offshore Russia in the Black Sea and Barents Sea in the framework of the strategic cooperation agreement signed on 25 April 2012. The executives in charge …
Max Petroleum: Releases NUR-1 Drilling Rig due to Stuck String and Finances
Max Petroleum Plc, an oil and gas exploration and production company focused on Kazakhstan, today announces that it is releasing the Saipem National 1625 DE onshore deep drilling rig drilling the NUR-1 well at the Emba B Prospect in Block E given the need to obtain additional capital to complete …