Saipem’s Post

I guess by now it's pretty obvious that it has been an outstanding month for Saipem! Just think about it—it is remarkable, to say the very least, that energy leaders have acknowledged the success of this Italian giant. We’ve already talked about this earlier this week, but it’s important to re-emphasize: Saipem announced the acquisition of two major contracts worth about $7 billion. To put things into perspective, these contracts in Saudi Arabia and Qatar not only highlight Saipem's growing influence in the Middle East but also underscore its long-standing collaborations with industry giants like QatarEnergy and Saudi Aramco. The broader scenario is even more impressive. The Middle East is gradually shifting away from oil and investing heavily in gas-generated energy. And guess who’s positioned to be at the forefront, partnering with these companies for the future? Relax, I don’t have a crystal ball, but I have to take my hat off. Congrats to all my friends at Saipem! #saipem #middleeast #aramco #qatarenergy #future [Link](https://lnkd.in/digbfFJ4)

Saipem is once again in the spotlight - with a robust financial performance in the second quarter of this year, the company is showing strength and resilience as it moves into the next phase of the decade with a huge and strong backlog of projects and possibilities. 👀There is no question that 2024 has been a good year. The company recently reported a net profit surge of 52.5% to €61 million, up from €40 million in the same period a year ago. This increase was accompanied by a 22% rise in net revenues to €3.37 billion. This is not something we can just dismiss as an outstanding position across the board. But even moving forward and looking deeply at what is in the mix, we all know that it consists of a blend of both onshore and offshore projects in a variety of sectors, expanding the company’s potential earnings in the future. This has been the key for many major players in the oil and gas industry and within the energy sector as a whole. ➡️Diversifying activities and making sure that they have more options in front of them is a powerful tool to stay alive and work well in the coming decades, especially now when we are dealing with a transition between the rise of green energies and the possibility to reduce gas emissions to the environment. Needless to say, all these variables will surely contribute to Saipem’s future financial results. But I think the real message is that the company is still a real deal when you think about offshore endeavors and future developments. At this point, Saipem is aiming to leverage not only to maintain a strong backlog of activities but most importantly, with the idea of how to execute projects efficiently while at the same time improving efficiency and, of course, results. In Brazil, they have a strong presence as well, and it is very encouraging for all of us who work within this environment to know that the company is doing well worldwide. I’m sure that there are many challenges ahead for SAIPEM, but as such for anyone else. As for us enthusiasts or people who have hands-on in the supply chain to support SAIPEM, the future could not be more promising. Congrats to all my fellows and colleagues in SAIPEM. Kudos to every single one of you, these results represent what you guys do best. 😉 Cheers. Source: https://lnkd.in/dz2Yus7T #insightswithpablocosta #saipem #future #results #future

It’s indeed amazing! What Saipem was able to do! The company Q1 First Quarter was a home run All the strategic initiatives and steadfast commitment to operational excellence have culminated in a remarkable financial outcome. To mention a few: (a) Net Income: A remarkable leap to €57 million in adjusted net income, reflecting our strong market position and operational efficiency. (b) Bond Program: The launch of a €3 billionmedium-term bond program, setting a solid foundation for future growth and stability. (c) Operational Milestones: The successful prepayment of a €387 million loan, showcasing our financial resilience and prudent management. Sustainable landscaping:Progress in green projects, including the Whiptail project in Guyana and the development of CO2 transportation and storage facilities in the UK, underscores our commitment to sustainability. #Saipem remains dedicated to delivering value to our stakeholders and playing a pivotal role in the energy sector’s transition. #energy #insightswithpablocosta #future

MODEC Reports 657% Year-On-Year Profit Boost In First Quarter MODEC reported US$71 million profit in the first quarter of 2024, a 657.1% increase from the US$9.4 million profit from the prior year quarter. ExxonMobil hired MODEC last year to deliver the Errea Wittu FPSO for the Uaru project offshore Guyana. The order was MODEC’s highest earning engineering, procurement, construction and installation (EPCI) contract in 2023, beating out Equinor’s Raia and Bacalhau. It is expected to be a key contributor to MODEC’s 2024 earnings. Read article here: https://rb.gy/brj57k #MODEC #Guyana #first #quarter #financial #report #Uaru #FPSO #construction #delivery #boost #profits

Saipem has secured three major contracts from TotalEnergies EP Angola Block 20 for the Kaminho project, focusing on developing the Cameia and Golfinho oil fields, located 100 km offshore Angola. 🌊 🇦🇴 These contracts, valued at $3.7 billion, encompass the engineering, procurement, construction, transportation, and commissioning of the FPSO vessel, along with a 12-year operation and maintenance period, extendable by 8 years. Additionally, Saipem will oversee the installation and start-up of approximately 30 km of subsea flowlines and risers. To learn more about this, click the link in the comments below! ⬇️ #TotalEnergies #Saipem #OffshoreOil #Angola #EnergySector #KaminhoProject #OilAndGas #Innovation #SustainableEnergy

Great news to you, Saipem TEAM! 👌😉👍 This is remarkable it was just confirmed that the company collaborated and finalized a gel between a Chinese yard for the construction of the next FPSO, to be operating in Angola for TotalEnergies. We are talking about a 👀$6 billion project for the #Kaminoproject (formerly Cameia-Golfinho) This development is substantially important not only to Saipem but also to the region as a whole. The amount of investment should collaborate with the performance of the Angolan economy including job creation a particular improvement in a way is that the country deals to get more skilled workers act into the offshore oil and gas sector. But it is also our open door when you think about future collaborations between SAIPEM and TotalEnergies both in Angola but also overseas. Congrats to all at Saipem. Link: https://lnkd.in/dK-Gbf23 #insightswithpablocosta #offshore #news #angolan

The $1 billion contracts with Saudi Aramco mark a significant milestone for Saipem, further solidifying its reputation in the energy sector. These contracts, focused on vital oil and gas infrastructure at the Marjan, Zuluf, and Safaniyah fields, underscore the strategic importance of energy projects in the Middle East. As an Italian running my business in the Middle East, I am thrilled to see Saipem secure these contracts in Saudi Arabia. This achievement illustrates the trust and confidence that Saudi Arabia places in Italian engineering capabilities, reinforcing Italy’s reputation for excellence in delivering complex energy projects. From a business perspective, these contracts will create vast opportunities for both Italian and local companies. Italian firms specializing in engineering, procurement, and construction will find a wealth of opportunities to collaborate, potentially leading to more joint ventures in the region. For local companies in Saudi Arabia and the UAE, there will be an increase in demand for local expertise and services, from logistics to materials, benefiting a wide range of sectors. The ripple effect from such large-scale projects can boost employment, enhance knowledge transfer, and increase the flow of investments into infrastructure, technology, and skills development. This success also strengthens the strategic partnership between Italy and the Gulf, which could lead to more Italian businesses entering the region to support similar projects, especially in renewable energy and industrial infrastructure. Good job, Saipem! #UAE #Saipem #MiddleEast #ItalianExcellence #oil&gas #SaudiArabia #Aramco #energysector #boostemployment #renewableenergy #industrialinfrastructure #energyprojects #engineering

Proud to be representing Petrofac at #OSW. I shared how we are integrating a comprehensive decarbonisation strategy and the four levers we can and are using to help decarbonise hydrocarbons. Discover more 👉 https://ow.ly/KJB130sC2ly

🌟 Exciting Analysis from Wood Mackenzie on SOCAR and ADNOC Collaboration 🌟 📢 In the News: On May 31, 2024, ADNOC announced awarding SOCAR a 3% stake in the Satah al Razboot (SARB) and Umm Lulu offshore concession. These two oil fields, located offshore Abu Dhabi, are under development by ADNOC Offshore. The fields are separate, located over 85 kilometers apart. Umm Lulu uses offshore production platforms, while SARB was developed via artificial islands. In 2018, CEPSA and OMV were awarded 20% stakes each in the concession. Last year, TotalEnergies acquired CEPSA's 20% stake. 📊 WoodMac Analysis: ADNOC is returning the favor! Last year, the Abu Dhabi oil giant acquired a 30% stake in the Absheron gas field in Azerbaijan from SOCAR and TotalEnergies. For SOCAR, forming a strategic partnership with a Middle Eastern NOC has been a long-held aspiration. This is the second instance where ADNOC has reduced its typical 60% stake to bring in new partners. The first was in 2019 when a 5% stake in the Ghasha concession was awarded to LUKOIL. ADNOC’s stake in the gas project dropped to 55%, but it recently increased to 70% after acquiring an additional 15% stake from Eni. Advancing geopolitical and strategic relationships appears to be the main driver in these moves. #OilAndGas #Energy #SOCAR #ADNOC #WoodMackenzie #StrategicPartnership #OffshoreDevelopment #EnergyNews #Geopolitics

Aramco awards $1bn oil-field contract to Saipem Saudi Aramco has awarded two offshore contracts worth $1 billion to the Italian contractor Saipem as part of a long-term agreement aimed at enhancing oil field infrastructure. The first contract involves constructing production modules and subsea pipelines in the Marjan oil and gas field, while the second focuses on similar work at the Zuluf and Safaniyah fields. These projects will utilize Saipem's local fabrication yard, supporting regional industry development. Despite these new contracts, Saipem anticipates a 20% decline in future orders from Aramco due to recent profit drops reported by the company. Overall, Aramco's net profit fell 9% in early 2024 amid lower crude sales and refining margins. #Aramco #OilFieldContracts #SaudiEnergy #OilAndGas #SaudiAramco #EnergyProjects #SaudiVision2030