This content is only available within our institutional offering.

22 Sep 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 | Viridien (VIRI: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), 3.8 | MAIRE S.p.A. (MAIRE:MIL), 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

Sign in
This content is only available to commercial clients. Sign in if you have access or contact support@research-tree.com to set up a commercial account
This content is only available to commercial clients. Sign in if you have access or contact support@research-tree.com to set up a commercial account
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 | Viridien (VIRI: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), 3.8 | MAIRE S.p.A. (MAIRE:MIL), 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:
22 Sep 2023 -
Author:
Thomson Daniel DT -
Pages:
6 -
Project news round-up
In contracting news, Saudi Aramco is set to receive bids from its pool of offshore Long-Term Agreement contractors for two c$1bn+ packages related to the Manifa oilfield, meanwhile bids have been received for three packages for the Zuluf incremental program. In the UAE, Adnoc has received technical bids for the EPS-2 project related to the Lower Zakum oilfield, while the larger LTDP-1 tender process is still underway. In Qatar, award of a major $4.5bn+ package related to production sustainability at the North Field is expected by year-end, for which a similar contract was awarded to Saipem and COOEC last year. Elsewhere, Upstream reports that Petrobras is aiming to award a contract for the manufacture and supply of its ''Hi-Sep'' system to TechnipFMC by the end of this month, potentially worth c$700m. In the LNG market, Sempra announced FERC approval for its Port Arthur Phase 2 project this week, whilst Commonwealth LNG announced a further 1mtpa Heads of Agreement with EQT ahead of targeted FID in 1Q24. In LNG shipping, news sources report that QatarEnergy could place orders for 15 Q-Max LNG Carriers at shipyards this year, in addition to an up to 40-vessel fleet expansion previously announced.
Seismic: TGS and PGS merger - small positive for the industry
TGS'' and PGS'' announcement to merge this week was likely not a major surprise given TGS'' ongoing efforts to consolidate the industry and its bid for PGS'' multi-client library in 2020. For PGS, combination with TGS ensures a firmer financial footing whilst TGS will benefit from a broader multi-client library and access to an increasingly scarce fleet of acquisition assets. We''d view the news as a net positive for the seismic industry/CGG - there''s a greater chance of discipline holding in a more consolidated supply chain, not least given lower client spending levels expected on frontier exploration and greater focus on near-field exploration in the energy transition.
Chart...