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19 May 2023
OFS weekly news wrap
Saipem (SPM:BIT), 0 | Saipem S.p.A. (SPM:MIL), 0 | Vallourec (VK:EPA), 0 | Vallourec SA (VK:PAR), 0 | CGG (CGG:EPA), 0 | CGG (CGG:PAR), 0 | SBM Offshore NV (SBMO:AMS), 0 | TechnipFMC PLC (FTI:NYSE), 0 | TechnipFMC plc (FTI:NYS), 0 | SUBSEA 7 (SUBC:STO), 0 | Subsea 7 S.A. (SUBC:OSL), 0 | Petrofac Limited (PFC:LON), 23.0 | Gaztransport & Technigaz (GTT:EPA), 0 | Gaztransport & Technigaz SA (GTT:PAR), 0 | AKER SOLUTIONS (AKSO:STO), 0 | Aker Solutions ASA (AKSO:OSL), 0 | Technip Energies NV (TE:PAR), 0
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OFS weekly news wrap
Saipem (SPM:BIT), 0 | Saipem S.p.A. (SPM:MIL), 0 | Vallourec (VK:EPA), 0 | Vallourec SA (VK:PAR), 0 | CGG (CGG:EPA), 0 | CGG (CGG:PAR), 0 | SBM Offshore NV (SBMO:AMS), 0 | TechnipFMC PLC (FTI:NYSE), 0 | TechnipFMC plc (FTI:NYS), 0 | SUBSEA 7 (SUBC:STO), 0 | Subsea 7 S.A. (SUBC:OSL), 0 | Petrofac Limited (PFC:LON), 23.0 | Gaztransport & Technigaz (GTT:EPA), 0 | Gaztransport & Technigaz SA (GTT:PAR), 0 | AKER SOLUTIONS (AKSO:STO), 0 | Aker Solutions ASA (AKSO:OSL), 0 | Technip Energies NV (TE:PAR), 0
- Published:
19 May 2023 -
Author:
Thomson Daniel DT -
Pages:
5
Saipem selected for major Marjan workscope, Tecnimont frontrunner for Amiral work
Upstream reports this week that Saipem has been selected for a c$1bn offshore contract relating to Aramco''s Marjan oilfield, while the Saudi Arabian National Oil Company has pushed back the deadline for bid submissions until mid-July on up to $10bn of offshore contracts to further develop the giant Safaniyah oilfield. Middle East media suggest up to $5bn of EPC contracts will be awarded within 2Q23 for the planned Amiral Petrochemicals facility, with Maire Tecnimont understood to be the frontrunner for two major packages, meanwhile QatarEnergy is set to award a delayed c$400m package for its ISND development. Elsewhere, Energean announced this week it had decided to develop its Olympus Area gas resource via subsea tie-backs to the Karish FPSO, with FID targeted before the end of 2023, whilst in Indonesia Eni plans to submit the development concept for its ultra-deepwater Maha gas and liquids project by the end of June.
QatarEnergy takes FID on North Field South with $10bn award to Technip Energies/CCC
QatarEnergy announced this week the award of a $10bn contract to a joint venture of Technip Energies and Consolidated Contractors Company (CCC) for the engineering, procurement and construction (EPC) of the North Field South (NFS) project. We understand that Technip Energies holds the majority of the interest in the JV with CCC, with the scope of the latter including the construction of the LNG trains and ancillary facilities only and with TE responsible for the engineering, procurement, partial construction and commissioning of the trains, as well as being fully responsible for the EPC of the 1.5mtpa CCS facility. We therefore expect the value to be booked as order intake in 2Q23 to TE to be cEUR6-6.5bn (vs FY23 consensus order intake in PD for EUR6.1bn).
Petrofac selected for major downstream project in Algeria
Petrofac, leading a JV with HQC, announced...