Saipem celebrates the three.1 billion greenback contract in Qatar on the inventory change | EUROtoday

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(Il Sole 24 Ore Radiocor) – Acquired on Saipem which is positioned on the high of the FTSE MIB. The firm led by Alessandro Puliti, in partnership with Offshore Oil Engineering Co., has been awarded an offshore EPCI contract by QatarPower Lng for the COMP5 bundle of the North Field Production Sustainability (Nfps) Offshore Compression Complexes mission. The complete worth of the contract is roughly 4 billion {dollars} and Saipem’s share quantities to roughly 3.1 billion {dollars}. The Nfps mission is a part of the technique of QatarPower Lng to take care of and improve the manufacturing capability of the North Field, the most important ‘non-associated’ pure fuel discipline on the planet, off the north-eastern coast of Qatar. The contract awarded to Saipem, with a complete length of roughly 5 years, includes the design, procurement, manufacturing and set up of two offshore compression crops, with installations anticipated in 2029 and 2030. This contract is along with the Comp2 and Comp3 packages beforehand awarded to Saipem.

Equita analysts spotlight that the task has optimistic implications for the inventory because it «represents a important share of order assortment estimated for 2025 (12.5 billion; within the 9 months of 2025 at 7.5 billion), decreasing the residual hole (round 2 billion) which could possibly be crammed at first of 2026. We estimate a margin in step with shallow water actions”. Furthermore, the brokers recall, «according to MLex Saipem and Subsea7 have integrated the documentation presented to the Basilian antitrust authority for the merger, following findings on incomplete information in the original filing. The integration led to the reactivation of the legal review deadline which now expires in August 2026 and the regulatory approval process continues to represent a short-term overhang on the stock, although in our opinion the merger remains value-creating for Saipem”. Positive evaluations additionally for Intermonte. «In the 9 months of 2025, Saipem’s order consumption reached 7.5 billion; within the fourth quarter, with this new contract, order consumption ought to have reached round 4 billion, for a complete because the starting of the yr equal to 11.5 billionin comparison with our present assumption of 13.2 billion (18.8 billion in 2024). This new contract confirms that the business outlook for Saipem within the Offshore section continues to be very stable”, explain the analysts.