Saipem backlog jumps to $33Bln as energy contracts multiply and first-half revenues show 20 percent increase
Saipem, the Italian engineer for LNG, oil and pipeline gas subsea contracts, reported a rise in earnings as well as a surge in new contracts and revenues, giving the company a backlog of €30 billion ($33Bln) and signalling an improving energy sector.
Qatar awards more offshore work to Saipem of Italy as North Field LNG expansion plans gather pace
Qatargas Operating Company has awarded Italian energy and LNG engineering company Saipem additional work worth $350 million within the North Field Production offshore project in the Arab Gulf underpinning the Qatar LNG expansion.
South Africa LNG and helium project company Renergen awards Virginia Gas contract to Saipem
Renergen, the emerging South African domestic natural gas and helium producer with LNG production plans, has awarded the front-end engineering and design work to Italian energy contractor Saipem for the downstream development of the Virginia Gas project in the Free State.
Saipem reports loss
July 29 (LNGJ) - Saipem, the Italian energy engineering company whose projects include the subsea portion of the Mozambique LNG export project in southeast Africa, reported an operating loss of €534 million ($627M) in the second quarter and a first-half loss of €711M compared with a profit of €262M in the first half of 2019. Saipem is particpating in subsea work in the Area 4 licence in the Rovuma Basin offshore Mozambique under a multi-year drilling contract on behalf of Italian company Eni. Milan-based Saipem is also part of the joint venture for Russian company Novatek's Arctic LNG II project proposed for the Gydan Peninsula in northern Siberia.
