genlou
7 years ago
San Donato Milanese (Milan), January 17, 2017 – Saipem has been awarded new contracts and the extension of pre-existing agreements in the onshore drilling sector in Saudi Arabia, Morocco, Bolivia and Argentina for a total value of $240 million.
In the Middle East, a strategic area for the Company, Saipem boosts its presence with a further important three-year extension to activities relating to 6 medium-sized onshore drilling rigs already operating in Saudi Arabia. This is in addition to extensions of equal duration announced in September 2016 in relation to 10 rigs.
In Morocco, close on the heels of business already acquired in that country, Saipem sees the high quality of its services recognised with a four-month extension to the contract for the supply of onshore drilling and workover services using a medium-sized rig that will operate in the north of the country near the Algerian border.
In Bolivia, a country of significant interest considering its hydrocarbon potential, Saipem strengthens its long-standing presence thanks to the award of a one year contract for a medium-sized rig.
Again in Latin America, the Company has acquired a new eight-month contract in Argentina for a second hydraulic rig in addition to the one announced on 22 September last year. This new award marks the consolidation of Saipem into the country as well as the broadening of its presence in a market of special interest on the South American continent due to its size and prospects for growth, both of which have the potential for attracting the major international oil companies.
“With these new awards, Saipem consolidates its presence of many years in the Middle East and Latin America with an eye on growth in the drilling market in these strategic areas of the world”, said Stefano Cao, CEO of Saipem.
genlou
8 years ago
$1B-plus award
Italian oilfield services firm Saipem (OTCPK:SAPMY, OTCPK:SAPMF) confirms a $1B-plus award of two contracts with Saudi Aramco covering developments at a trio of offshore fields in Saudi Arabia.
Saipem says it will provide and install subsea systems, pipelines, subsea cables and umbilicals, platform decks and jackets, plus additional maintenance and dismantling works on existing platforms already operating in the fields.
genlou
8 years ago
Saipem: $430 million new onshore drilling contracts
BusinessSan Donato Milanese
San Donato Milanese (Milan), 22 September 2016 – Saipem has been awarded new contracts and extensions to existing contracts in the onshore 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.
Saipem is one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil & gas market. The company has distinctive competences in operations in harsh environments, remote areas and deepwater. Saipem provides a full range of services with “EPC” and “EPCI” contracts (on a “turn-key” basis) and has distinctive capabilities and unique assets with a high technological content.
Website: www.saipem.com
Switchboard: +39 025201
Media relations
Tel: +39 0252034088
E-mail: media.relations@saipem.com
iCorporate press office
Tel: +39 024678752;
Mobile: +39 3669134595
E-mail: saipem@icorporate.it
genlou
8 years ago
September 1, 2016 – Today Saipem successfully launched a dual tranche fixed rate bond issue with 4.5- and 7–year tenors, for a total amount of Euro 1 billion.
The notes are issued by Saipem Finance International B.V. under the Euro Medium Term Notes Programme (EMTN Programme).
The 4.5-year bond amounts to Euro 500 million and pays a fixed annual coupon of 3.0 %. The re-offer price is 100.0 %. The 7-year bond amounts to Euro 500 million and pays a fixed annual coupon of 3.75 %. The re-offer price is 100.0 %.
The notes will be listed on the Euro MTF of the Luxembourg Stock Exchange and have been purchased by institutional investors mainly in France, Germany, Italy and UK.
The proceeds of the bond will be used to partially reimburse the Bridge to Bond facility, which from its original amount of Euro 1,600 million was already reduced to Euro 1,400 million in August through the first use of the new credit line supported by Garantiinstituttet for Eksportkreditt (GIEK).
OTCRIDER
8 years ago
Saipem treasury shares to cover the 2016-2018 Long-Term Incentive Plan
FinancialSan Donato Milanese
San Donato Milanese (Milan), August 5, 2016 – Saipem S.p.A. informs that today it completed the Treasury Shares buy-back programme (“the Programme”) following the purchase, over the period July 28-August 4, 2016 (inclusive), of no. 69,121,512 treasury shares (representing 0.684% of the ordinary shares issued) at an average price of Euro 0.3816 per share, for a total counter value of Euro 26,376,482, under the power granted by the Company’s Shareholders at their meeting of April 29, 2016.
Accordingly, having regard for the other treasury shares already held at the start of the Programme (no. 1,939,832 shares, representing 0.0191% of the share capital) and the treasury shares purchased under the Programme, at today's date Saipem holds 71,061,344 treasury shares representing 0.703% of the share capital.
Saipem is one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil & gas market. The company has distinctive competences in operations in harsh environments, remote areas and deepwater. Saipem provides a full range of services with “EPC” and “EPCI” contracts (on a “turn-key” basis) and has distinctive capabilities and unique assets with a high technological content.
Website: www.saipem.com
Switchboard: +39 025201
http://www.saipem.com/sites/SAIPEM_en_IT/home/saipem-homepage.page
SaltyMutt
8 years ago
SAPMY
Company Background
Saipem SpA is an Italy-based company active as contractor in the oil and gas industry in remote areas and deepwater. It supplies engineering, procurement, project management and construction services with the design and the execution of offshore and onshore projects. It is organized into two business units: Engineering & Construction and Drilling. The Engineering & Construction business unit operates both onshore and offshore. The offshore activities include platforms, marine terminals, pipelines and the development of deepwater fields. The onshore activities focus on the laying of pipelines and installation of plant and equipment. The Company also provides Engineering, Procurement, Construction and Installation services to the oil industry. The Drilling business unit carries out drilling programs in the onshore and offshore environments globally. In December 2013, the Company sold the entire share capital of Floaters SpA and Firenze FPSO business line to Eni SpA.
http://www.saipem.com
genlou
8 years ago
Launch of buy-back programme for Saipem ordinary shares to cover 2016-2018 Long-Term Incentive Plan
FinancialSan Donato Milanese
San Donato Milanese (Milan), July 28, 2016 – Saipem S.p.A. has as of today launched the buy-back programme (the “Programme”) for Saipem ordinary shares approved by the Shareholders’ Meeting on April 29, 2016.
The Programme regards the acquisition of the Company’s own shares to cover the 2016 allocation of the 2016-2018 Long Term Incentive Plan (the ‘Plan’), as approved by the Shareholders’ Meeting, pursuant to article 84-bis, paragraph 2 of the Issuers’ Regulation and article 114-bis of Italian Legislative Decree 58/98.
The resolution approved by the Shareholders’ Meeting allows for the purchase of a maximum number of 85,000,000 shares (corresponding to approximately 0.84% of the Company’s share capital) in one or more tranches, for a maximum period of 18 months, and for an amount no greater than Euro 42,500,000.
Purchase of the shares will take place through the granting of a specific mandate to an authorized intermediary, which will carry out the purchases in complete independence and without any influence whatsoever from Saipem S.p.A. in relation to the timing of the purchases or the conditions thereof. Purchases will be carried out in one or more tranches on the regulated Computerized Trading Market, at a unit price equal to the official stock exchange price recorded on the day prior to each transaction, plus or minus 5% for the maximum and minimum price respectively, in accordance with the methods and operational procedures established in Borsa Italiana S.p.A.’s regulations.
The buy-back transactions under the Programme will be executed in accordance with the procedures set out in article 144-bis, paragraph 1, letter b) of the Issuers’ Regulations, as well as in compliance with the applicable European Union Safe Harbour provisions and the market practices allowed by Consob pursuant to article 180, paragraph 1, letter c), of Italian Legislative Decree 58/98.
Saipem will disclose the following details of transactions executed under the Programme to CONSOB and to the market no later than the seventh daily market session following the date of execution of each transaction: the number of shares purchased, the date of each purchase, the average price, and the cumulative number of shares purchased as at the date of the disclosure. As of today, Saipem holds 1,939,832 treasury shares, corresponding to 0.0191% of the Company’s share capital. No treasury shares are held through subsidiary companies, fiduciaries or intermediaries.
Saipem is one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil & gas market. The company has distinctive competences in operations in harsh environments, remote areas and deepwater. Saipem provides a full range of services with “EPC” and “EPCI” contracts (on a “turn-key” basis) and has distinctive capabilities and unique assets with a high technological content.
Website: www.saipem.com
genlou
8 years ago
- Revenues: €5,275 million (€5,373 million in the first half of 2015), of which €2,435 million in the second quarter
- Adjusted operating profit (EBIT) [2]: €324 million (-€479 million in the first half of 2015), of which €182 million in the second quarter
- Reported operating profit (EBIT): €237 million (-€790 million in the first half of 2015), of which €95 million in the second quarter
- Adjusted net profit [2]: €140 million (-€609 million in the first half of 2015), of which €79 million in the second quarter
- Reported net profit: €53 million (-€920 million in the first half of 2015), of which -€8 million in the second quarter
- Capital expenditure: €97 million (€268 million in the first half of 2015), of which €52 million in the second quarter
- Net debt at June 30, 2016: €1,970 million (€5,390 million at December 31, 2015; €2,040 million at March 31, 2016);
- New contracts: €3,328 million (€3,500 million in the first half of 2015), of which €2,303 million in the second quarter. Additional contracts worth in excess of €2,500 million were won in July.
- Backlog: €13,899 million (€15,846 million at December 31, 2015)
Updated guidance for 2016:
- Revenues: ~ €10.5 billion
- Adjusted operating profit (EBIT): ~ €600 million
- Adjusted net profit: ~ €250 million
- Capital expenditure: ~ €400 million
- Net debt: ~ €1.5 billion
genlou
8 years ago
San Donato Milanese, July 27, 2016 - Saipem has been awarded two new E&C contracts for onshore and offshore work in Indonesia on the Tangguh LNG Expansion Project. The contracts were awarded by BP Berau Ltd., as Operator of the Tangguh LNG project, on behalf of the other production sharing contract parties.
The first award is for the engineering, procurement, construction and installation of offshore facilities, consisting of two unmanned platforms and subsea pipelines. Saipem will leverage its strong technological expertise in the design, fabrication and installation of platform and subsea pipelines. In accordance with the requirements of SKK Migas, Indonesia's upstream oil & gas regulator, Saipem will contribute to local content enhancement, including through its own Karimun fabrication yard.
The second contract for the construction of an onshore LNG process train with a liquefaction capacity of 3.8 million tons per annum, utilities, offsites, an LNG jetty and associated infrastructure, has been awarded to CSTS, a joint operation led by Indonesian EPC Contractor Tripatra with Chiyoda, Saipem and Suluh Ardhi Engineering. Completion of the projects is expected in 2020.
“We are very pleased to have secured these two significant awards for the Tangguh LNG Expansion Project. These achievements represent Saipem’s capacity to contribute to satisfying South Asia’s growing energy demand through our diversified EPCI capabilities in offshore platform construction & installation and onshore LNG process trains, and also represent recognition of the value of our strong embedded safety culture, our commitment to the development of local content, and our integrated sustainability model”, commented Saipem CEO Stefano Cao.
Saipem is one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil & gas market. The company has distinctive competences in operations in harsh environments, remote areas and deepwater. Saipem provides a full range of services with “EPC” and “EPCI” contracts (on a “turn-key” basis) and has distinctive capabilities and unique assets with a high technological content.
Website: www.saipem.com
genlou
8 years ago
Saipem, an Italian offshore contractor, has won the rights to an engineering, procurement, construction and installation contract in the Zohr gas field in the Mediterranean Sea off the coast of Egypt. The contract is worth 1.6 billion euros (US$1.77 billion) and work on the project in question should begin this month.
That work will include installing a 26-inch gas export trunkline along with 14- and 18-inch service trunklines. The contact also calls for the deepwater field development of six wells and installing an umbilical system. Work will begin this month and is expected to be finished by 2017.
To meet the tight schedule, Saipem will use a fleet of vessels in its offshore operations that will include a number of specialized vessels. Among them will be a submersible pipelayer.
Saipem CEO, Stefano Cao, stated: “We are very pleased to have been selected for the important objective of delivering first gas from Zohr before 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.”
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Renee
2 years ago
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