Saipem Secures Major Offshore Contract Worth $4B From QatarEnergy

Zacks09-19 01:32

Saipem S.p.A SAPMF, an Italian engineering and construction services firm, has secured an engineering, procurement, and construction (EPC) contract for an offshore project in Qatar. QatarEnergy LNG, a...

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QatarEnergy LNG, a...</p>\n\n<a href=\"https://finance.yahoo.com/news/saipem-secures-major-offshore-contract-173200002.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Saipem Secures Major Offshore Contract Worth $4B From QatarEnergy</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSaipem Secures Major Offshore Contract Worth $4B From QatarEnergy\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-19 01:32 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/saipem-secures-major-offshore-contract-173200002.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Saipem S.p.A SAPMF, an Italian engineering and construction services firm, has secured an engineering, procurement, and construction (EPC) contract for an offshore project in Qatar. QatarEnergy LNG, a...</p>\n\n<a href=\"https://finance.yahoo.com/news/saipem-secures-major-offshore-contract-173200002.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SAPMF","symbol_name":"Saipem S.p.A.","start_time":0,"source_url":"https://finance.yahoo.com/news/saipem-secures-major-offshore-contract-173200002.html","article_id":"2468755383","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/Eam6i7HWkPQHekdVzJrT6A--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/c6969322c4ce954b3916fa05dd6dc81d"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2468755383","pubTimestamp":1726680720,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Saipem S.p.ASAPMF, an Italian engineering and construction services firm, has secured an engineering, procurement, and construction  contract for an offshore project in Qatar. QatarEnergy LNG, a subsidiary of QatarEnergy, has awarded this contract to Saipem. The project, worth $4 billion, is part of the North Field production sustainability offshore compression complexes program. Saipem will be working on COMP 3A and COMP 3B of the program.Per the terms of the agreement, Saipem has been tasked with engineering, procurement, fabrication and installation work for six platforms. Furthermore, it will be responsible for laying rigid subsea pipelines spanning 100 km. These pipelines, with diameters of 28 inches and 24 inches, will be made from an alloy that is resistant to corrosion.The award followed another EPC contract that Saipem had won in October 2022. The work on this project is currently in progress. The contract, worth $4.5 billion, is part of the North Field production sustainabili","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"SAPMF":"Saipem S.p.A.","BK4213":"石油与天然气的勘探与生产","EPC":"Edgewell Personal Care Co","FTI":"德希尼布FMC","LU0053671581.USD":"摩根大通美国小盘成长股 A(dist)","LU0300736492.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) INC","PED":"Pedevco Corp.","BK4183":"个人用品","BK4563":"昨日强势股","BK4179":"石油天然气设备与服务","SAPMY":"Saipem S.p.A.","EGY":"瓦可能源"},"translate_title":"Saipem从卡塔尔能源公司获得价值40亿美元的大型海上合同","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EGY":1,"EPC":1,"FTI":1,"PED":1,"SAPMF":0.9,"SAPMY":0.9},"content_text":"Saipem S.p.A SAPMF, an Italian engineering and construction services firm, has secured an engineering, procurement, and construction (EPC) contract for an offshore project in Qatar. QatarEnergy LNG, a subsidiary of QatarEnergy, has awarded this contract to Saipem. The project, worth $4 billion, is part of the North Field production sustainability offshore compression complexes program. Saipem will be working on COMP 3A and COMP 3B of the program.\nPer the terms of the agreement, Saipem has been tasked with engineering, procurement, fabrication and installation work for six platforms. Furthermore, it will be responsible for laying rigid subsea pipelines spanning 100 km. These pipelines, with diameters of 28 inches and 24 inches, will be made from an alloy that is resistant to corrosion.\nThe contract also includes the laying of 100 km of subsea composite cables and 150 km of fiber-optic cables. Saipem will also be responsible for the installation of additional subsea facilities.\nThe award followed another EPC contract that Saipem had won in October 2022. The work on this project is currently in progress. The contract, worth $4.5 billion, is part of the North Field production sustainability offshore compression complexes project, COMP-2.\nThe North Field is one of the largest natural gas reservoirs in the world located offshore Qatar. The North Field production sustainability offshore compression complexes program was aimed at ensuring long-term production from the field.\nQatarEnergy is focusing on raising Qatar’s LNG production capacity. The company is currently working on an LNG expansion program for the North Field. This program covers three fields — the North Field East, the North Field South and the North Field West. This expansion program is aimed at significantly increasing the country’s production capacity from 77 to 142 million tons per annum (mtpa) in 2030.\nSAPMF’s Zacks Rank and Key Picks\nCurrently, SAPMF carries a Zacks Rank #3 (Hold).\nSome better-ranked stocks in the energy sector are PEDEVCO Corp. PED,TechnipFMC FTI and VAALCO Energy EGY. PEDEVCO presently sports a Zacks Rank #1 (Strong Buy), while TechnipFMC and VAALCO Energy carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.\nPEDEVCO is engaged in the acquisition and development of energy assets in the United States and Pacific Rim countries. The company stands to benefit significantly from its holdings in the Permian Basin, one of the most prolific oil-producing regions in the United States, as well as in the D-J Basin in Colorado, which includes more than 150 high-quality drilling locations. Combined with bullish oil prices, this is expected to boost the company's production and overall profitability.\nTechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. The company’s total backlog witnessed a record high of $13.9 million in the second quarter of 2024, indicating a year-over-year increase of 4.51%. This growing backlog ensures strong revenue growth for FTI in the future.\nVAALCO Energy is an independent energy company involved in upstream business operationswith a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company’s production outlook seems bright.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nTechnipFMC plc (FTI) : Free Stock Analysis Report\nVaalco Energy Inc (EGY) : Free Stock Analysis Report\nPedevco Corp. (PED) : Free Stock Analysis Report\nSaipem (SAPMF) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.27.0","shortVersion":"4.27.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2468755383"}