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Saipem SpA (SPMI.MI)

SPMI.MI on Milan Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Saipem shares fall 5 pct after guidance cut
Thursday, 28 Jul 2016 02:00am EDT 

Saipem: Shares in the Italian oil contractor fall more than 5 percent after it lowered its guidance . Saipem cut its guidance for the year on Wednesday, saying clients hit by low oil prices were delaying the awarding of contracts.[nL8N1AD7MU] Further company coverage: [SPMI.MI] (Reporting by Milan newsroom).  Full Article

HISTEEL signs 14.07 bln won contract with SAIPEM
Monday, 27 Jun 2016 09:30pm EDT 

HISTEEL CO., LTD <071090.KS>: Says it signs AL ZOUR NEW REFINERY PROJECT PACKAGE 4 contract with SAIPEM .Says contract price of 14.07 billion won.  Full Article

S&P's cuts Saipem long-term rating to junk
Friday, 6 May 2016 02:08pm EDT 

Italy's Saipem says: Credit rating agency Standard & Poor's cut the oil service company's long-term rating to 'BB+' from 'BBB-' . Outlook on the new rating is negative . S&P's had said in February it was considering cutting Saipem's rating after parent company Eni sold part of its 43 percent stake to get 6.7 billion euros of Saipem's gross debt off its own balance sheet and sever its ties. Further company coverage: [SPMI.MI] (Reporting by Milan Newsroom).  Full Article

Saipem SpA awarded E&C contracts worth a total of about 430 million euros
Tuesday, 19 Apr 2016 03:01am EDT 

Saipem SpA:Is awarded E&C contracts worth a total of about 430 million euros.E&C contracts relate to: a contract with Statoil for the Hywind Scotland project; works related to the installation of multi-phase pipelines in the Caspian Sea; and the contract for the offshore section of the Trans Adriatic Pipeline project.  Full Article

Saipem SpA gets contract for the offshore section of the Trans Adriatic Pipeline project
Thursday, 14 Apr 2016 06:42am EDT 

Saipem SpA:Has been awarded a contract related to the offshore section of the Trans Adriatic Pipeline project (TAP).The EPCI contract (Engineering, Procurement, Construction and Installation) involves the installation of a gas pipeline between the coastlines of Albania and Italy, across the Adriatic Sea.Works will commence in 2016.  Full Article

Saipem SpA signs MoU for Toos Gas Field project in Iran
Tuesday, 12 Apr 2016 11:41am EDT 

Saipem SpA:Enters into a Memorandum of Understanding (MoU) with Razavi Oil & Gas Development Company concerning potential cooperation on a project in the Iran.The MoU envisages discussions aimed at a potential cooperation on the Toos Gas Field Development Project, located 100 km northeast of Mashhad.  Full Article

Saipem SpA: ending of the offer to the market of the unexercised rights
Tuesday, 16 Feb 2016 07:09am EST 

Saipem SpA:53,599,174 rights not exercised during offering period for the subscription of 1,179,181,828 newly issued Saipem ordinary shares have been sold for a total amount of 9,276 euros.  Full Article

Saipem SpA: end of the offer period of the share capital increase
Thursday, 11 Feb 2016 04:04pm EST 

Saipem SpA:Offering period of up to 9,668,363,496 newly issued Saipem ordinary shares has been completed.During the offering period, started on Jan. 25 and ended on Feb. 11 included, 385,871,894 rights were exercised for the subscription of 8,489,181,668 shares, equal to 87.8 percent of the total shares offered, for a total amount equal to around 3.07 billion euros.Eni SpA and Fondo Strategico Italiano have subscribed their portion of the share capital increase, in compliance with their subscription undertakings, equal to 42.9 percent of the ordinary share capital of Saipem.53,599,174 unexercised rights, related to the subscription of 1,179,181,828 new shares and corresponding to 12.2 percent of the total shares, for a total amount equal to around 427 million euros, will be offered from Feb.15 included to Feb. 19 included.  Full Article

Saipem SpA: terms set for the capital increase of up to 3.5 billion euros
Friday, 22 Jan 2016 06:06am EST 

Saipem SpA:Board sets the final terms of the share capital increase for up to 3.5 billion euros.Share capital increase to take place via the issue of up to 9,668,363,496 new ordinary shares with no par value.Shares to be offered to shareholders at an issue ratio of 22 new shares every ordinary and/or saving share held.Issue price to be 0.362 euro per share, for a total amount of 3,499,947,586 euros, of which 1,749,973,793 euros booked into share capital 1,749,973,793 euros as share premium.Option rights valid for the subscription of newly issued shares of Saipem will be exercisable from Jan. 25 to Feb. 11, inclusive.  Full Article

Saipem SpA transfers Vibo Valentia and Rome project execution centres to Eni unit Tecnomare
Wednesday, 23 Dec 2015 06:11am EST 

Saipem SpA:Signs an agreement for the transfer of the business line comprising the Vibo Valentia and Rome project execution centres to Tecnomare, an Eni group unit.The sale of the business line will be effective as of Dec. 31, 2015, and the structures will be integrated into the organization of Tecnomare.  Full Article


Saipem CEO sees work on Nord Stream II going ahead if conditions right

MILAN The Nord Stream II pipeline project will go ahead if conditions are right but sanctions may impact on work, the chief executive of Italian oil services group Saipem said on Tuesday.