BM-C-33 FID, new Brazil FPSO tender, NFS winner, SUBC major award, Sparta FEED It''s been a busy week for project related news flow, beginning with Equinor''s decision to sanction the $9bn BM-C-33 gas project offshore Brazil, with TechnipFMC and Modec amongst the recipients of major contract awards. Petrobras is set to tender for yet another FPSO in the Campos basin at Barracuda, while Shell moved to the FEED phase on Sparta in the GoM. In the Middle East, Saipem has reportedly been selected by Aramco for brownfield work along with McDermott and NPCC and Adnoc is moving forward with the tendering process at Lower Zakum. Offshore projects in Angola and the UK have moved closer to FID, meanwhile Subsea 7 announced a ''major'' award this morning for an undisclosed client, though we think this could relate to the next phase of work on the Sakarya project in Turkey. Middle East media report that QatarEnergy has selected a consortium for NFS LNG Middle East media sources have reported today that the consortium of Technip Energies and Greece/Lebanon-based Consolidated Contractors Company (CCC) has been selected by QatarEnergy for the c$10bn EPC contract to construct the two new LNG trains constituting the main package of the North Field South (NFS) LNG project in Qatar. The official signing ceremony is reportedly set to take place ''around mid-May'' (i.e. next week) in Doha. The post-result TE sell-off last week likely partly reflected increased perceived risk around the NFS award. While we still think the market is pricing in award to TE on a balance of probabilities, we think the shares may react more positively to confirmation next week (if the news reports are accurate) than they would have pre-results. Chart of the week: 2Q offshore intake set for another strong quarter vs consensus After a robust 1Q for offshore awards where TechnipFMC, Subsea 7 and Saipem reported a combined c1.6x book-to-bill in the offshore divisions, 2Q is shaping up to be...