Key Developments: Saipem SpA (SAPMY.PK)
14.29USD
22 May 2013
$-0.16 (-1.11%)
$14.45
$14.43
$14.43
$14.24
550
4,921
$26.18
$12.80
Latest Key Developments (Source: Significant Developments)
Tecnicas Reunidas SA And Consortium, Including Saipem SpA, Win Project In Turkey
Tecnicas Reunidas SA announced that SOCAR Turkey Enerji A.S. has awarded to the consortium under the leadership of Tecnicas Reunidas (TR) and incorporating Saipem SpA from Italy, GS Engineering & Construction from South Korea, and Itochu from Japan, a contract for the engineering, procurement of all equipment and materials, construction and commissioning of the facilities for the SOCAR Turkey Aegean Refinery (STAR) in Aliaga, Turkey. The global amount of the contract is around USD 3,500 million. The value of the contract for TR will be above USD 1,100 million and will have an execution period of 49 months until the commissioning of all the units. The design for STAR Refinery will enable to process different types of crude oil such as Urals, Azeri Light and Kirkuk with an overall capacity of 10 million tons per year. The new refinery will be constructed on Petkim peninsula on approximately 2.300 hectares of area. Full Article
Saipem SpA Confirms Revenues, EBIT and Net Income FY 2013 Guidance
Saipem SpA announced that it has confirmed a guidance from January 29, 2013, expecting the Company to achieve for fiscal year 2013 revenues amounting to approximately EUR 13.5 billion, EBIT in the region of EUR 750 million, a net income of approximately EUR 450 million, with investments amounting to approximately EUR 1billion. Full Article
Saipem SpA Awarded New E&C Offshore Contracts
Saipem SpA announced that it has been awarded new E&C Offshore contracts in Latin America for the total value of approximately USD 500 million. In Venezuela, Saipem signed with Cardon IV, a 50/50 joint-venture between Eni and Repsol, T&I contracts for the development of the Perla EP Project, in the Gulf of Venezuela. In Brazil, Saipem has been assigned by Petrobras an EPCI contract for the Sapinhoa Norte and Iracema Sul Project, to be developed in the Santos Basin Pre-Salt Region, approximately 300 kilometers off the coasts of the Rio de Janeiro and Sao Paulo States. Full Article
Saipem SpA to Propose FY 2012 Dividend Distribution
Saipem SpA announced that the Board of Directors moved to propose at the Annual Shareholders’ Meeting the distribution for fiscal year 2012 of a dividend of EUR 0.68 per ordinary share and EUR 0.71 per savings share. Dividends will be paid from May 23, 2013 (ex-dividend date: May 20, 2013). Full Article
Saipem SpA Awarded New E&C Offshore Contracts Worth USD 1.1 Billion
Saipem SpA announced that it has been awarded new E&C Offshore contracts in North and West Africa for a total value of approximately USD 1.1 billion. In Egypt, Saipem has been awarded by Burullus Gas Company a contract for the development of the West Delta Deep Marine Phase IXa Project, approximately 90 kilometers off the Mediterranean Coast of Egypt. The scope of work encompasses engineering, procurement, installation, pre-commissioning and commissioning support of subsea facilities in the West Delta Deep Marine Concession, where Saipem already performed earlier subsea development phases. New facilities include rigid and flexible flowlines, umbilicals and other related subsea structures, to be installed in water depths up to 850 meters. Marine activities will be carried out between the second and the fourth quarter of 2014. Furthermore, in Angola, Saipem has been awarded an EPCI contract for subsea facilities. The scope of work includes engineering, procurement, fabrication and installation of production and water injection pipelines and flowlines, rigid jumpers and other related subsea structures. Offshore activities will be performed between the second quarter of 2014 and the second quarter of 2015, in a water depth ranging from 700 to 1,450 meters. The fabrication activities will be fully carried out in Angola at Saipem yards in Soyo and Ambriz. Full Article
Saipem SpA Issues Revenues, EBIT, Net Income and Capex Guidance for FY 2013 and Proposes Dividend Distribution for FY 2012
Saipem SpA announced that the Board of Directors will propose to confirm the pay-out policy distribution of one third of consolidated net profit, corresponding in the fiscal year 2012 at a dividend of EUR 0.68 per ordinary share (EUR 0.70 for the fiscal year 2011) and EUR 0.71 per savings share (EUR 0.73 for the fiscal year 2011). Dividends will be paid from May 23, 2013 with ex-dividend date on May 20, 2013 and record date on May 22, 2013. Additionally, the Company expects revenues for the full year 2013 to be in the region of EUR 13.5 billion, EBIT of EUR 750 million, net income of EUR 450 million and capex of EUR 0.9 -1 billion. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report for fiscal year 2013 revenues of EUR 13,495.82 million and net income of EUR 442.74 million. Full Article
Saipem SpA Announces New Contracts Worth EUR 3.2 Billion
Saipem SpA announced that it has been awarded new contracts worth approximately EUR 3.2 billion. From the end of November 2012 to date, Saipem has been awarded new contracts for a total value of approximately EUR 3.2 billion. The portion of contracts awarded in December 2012 amounts to a value of EUR 1.4 billion. In Canada, Saipem has agreed with Husky Oil the lump sum price for the Sunrise Central Facility project, which Saipem is already developing. In Nigeria, Saipem has signed an EPC contract with Dangote Fertilizer Ltd for a new ammonia and urea production complex to be realized in the Edo State, Nigeria. In addition, Saipem has signed further contracts and agreed to changes in the scope of work on existing projects, in Australia and Iraq. In Saudi Arabia, Saipem has been awarded a lump sum contract by Saudi Aramco increasing the original scope of work agreed in early 2011 for the development of the Arabiyah and Hasbah fields, located in the Arabic Gulf. The In the North Sea, Saipem has been awarded various T&I contracts by Statoil requiring the deployment of Saipem 7000 in both the Norwegian and British sectors. Furthermore, Saipem has been awarded several minor contracts in the Middle East, North Sea and West Africa. Saipem has signed contracts with Eni, for an approximate value EUR 900 million, for the extension of the charter of the Saipem 10000 for a period of 5 years, starting from October 2014, and of the Scarabeo 4 for a period of one year, until August 2014. Full Article
Italy Watchdog Asks UK To Probe Saipem SpA's Share Placement-Reuters
Reuters reported that Italy's market watchdog Consob has asked its British counterpart to probe a sale of Saipem SpA shares by BofA Merrill Lynch a day before the oil services group issued a profit warning that sank the shares. Bank of America-Merrill Lynch BAC.N had placed 2.3% of Saipem shares on the market for EUR30.65 per share. Bofa Merrill Lynch declined to comment. Consob and Saipem also declined to comment. The Financial Services Authority could not immediately be reached after hours. Full Article
Saipem SpA Issues FY 2013 Revenues Guidance In-Line With Analysts' Estimates; Issues FY 2013 EBIT and Net Income Guidance Below Analysts' Estimates
Saipem SpA announced that it has issued the Company's fiscal year 2013 revenues, EBIT and net income guidance. The Company expects to report for fiscal year 2013 revenues in the region of EUR 13.5 billion, EBIT of EUR 750 million and net income of EUR 450 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report for fiscal year 2013 revenues of EUR 13,774.67 million, EBIT of EUR 1,504.60 million and net income of EUR 946.03 million. Full Article
Socar Selects Consortium, Including Saipem SpA, To Build Refinery In Turkey-Reuters
Reuters reported that Azerbaijani state oil company Socar has selected a consortium of Tecnicas Reunidas SA, Saipem SpA, GS Engineering & Construction Corp and Itochu to build an oil refinery at Aliaga in western Turkey. It is planned to complete talks with the consortium and sign a contract by the end of January on the refinery, which will have a total cost of around $4 billion excluding financing costs. Full Article
UPDATE 1-Saipem 'could lose 500 mln euros' in Algerian probe
* Confirms revised 2013 targets (Adds contract payment concern, comments by management, analyst)
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