Italy's Saipem wins offshore contract worth $2 bln in Saudi Arabia
MILAN, Sept 18 (Reuters) -Italian energy engineering group Saipem SPMI.MI said on Wednesday it had won an offshore contract worth around $2 billion for the development of the Marjan oil field in Saudi Arabia.
The contract was signed under the existing long-term agreement with oil giant Saudi Aramco 2222.SE, the company said in a statement.
Saipem said earlier this month it had won two other offshore contracts with Saudi Aramco worth about $1 billion in total, and an offshore contract worth $4 billion with QatarEnergy, one of the world's top LNG suppliers.
Under the deal announced on Wednesday, Saipem said it would provide "engineering, procurement, construction and installation of wellhead platforms' topsides, wellhead platforms' jackets, tie-in platform jacket and topside, rigid flowlines, submarine composite cables and fiber optic cables."
By 1143 GMT Saipem shares were up 1.48%
Reporting by Sara Rossi, editing by Alvise Armellini
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
