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09 Dec 2022
OFS weekly project 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 | 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 project 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 | 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:
09 Dec 2022 -
Author:
Thomson Daniel DT -
Pages:
7 -
Qatargas to launch next major NFPS package, new UAE onshore tender, Kelidang rebooted
Qatargas is moving swiftly to tender for the next major NFPS compression package ''EPCI 4'' following the recent $4.5bn award for a similar scope to Saipem, with tenders to be issued in 1Q23. In the UAE, Adnoc Onshore has set a Dec-23rd deadline for bidders including Petrofac to submit technical offers for a $200m+ workscope related to the Sahil oilfield. In APAC, Petronas is reportedly looking to reboot the development process of the Kelidang ultra-deepwater gas field offshore Brunei (potentially relevant for PFC and SPM), while Woodside is taking a more optimistic stance toward the planned development of the Sunrise gas field offshore Timor Leste and potential LNG plant. In Australia. the planned Perdaman fertiliser project could see delays following the entry into voluntary administration by SPM''s JV partner Clough.
Awards and FIDs
Subsea 7 announced this week that Aker BP''s decision to vote for the approval of the NOAKA, Valhall PWP-Fenris and Skarv Satellite projects offshore Norway is expected to lead to major orders to the firm (we think c$1.6bn) following PDO submissions in mid-December. Also in Norway, Equinor submitted the PDO for the Verdande tie-back project, which we designate as FID. In Offshore wind, DEME announced yesterday the award in consortium with LS Cable of an EPCI contract for the export cable at Vattenfall''s Norfolk Vanguard project.
2023 capex budgets: NOCs and Independents spending to outpace Majors again
While it is still early in the 2023 capital budgeting process and only a few companies have disclosed guidance so far, early indications for spending next year are encouraging. Key Middle Eastern NOCs Aramco and Adnoc are set to raise capex by 10% and 18% respectively, while Petrobras will see its EandP capex up 50% y/y as major deepwater projects progress. We expect global independents to raise spending by double-digits next year,...