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Bureau Veritas to Class, Certify FPSOs for Saipem

Bureau Veritas has been awarded a contract by Saipem to provide classification and certification services for the two Kaombo FPSOs for service off Angola. The $4 billion project for the FPSOs was awarded to Saipem by Total for the engineering…

IMCA Cracks Down on Bribery and Corruption

Bribery and corruption is a growing concern for businesses in all sectors and jurisdictions. Corruption is a problem not only from an ethical and competition-distorting perspective, but also because of the substantial risk it creates to the…

Saipem: Barbieri Resigns From the Board of Directors

Saipem announces that Fabrizio Barbieri has resigned from his position as a director of Saipem’s Board. Fabrizio Barbieri, a non-executive and non-independent Board member, was not part of any internal committee, and was drawn from the list…

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Saipem Awarded New Drilling Contracts of $850 mi

Saipem has been awarded new drilling contracts in Indonesia, Nigeria, the Arabian Gulf and Latin America worth approximately $850 million of which $540 million are related to offshore activity and refer to four different units of Saipem’s fleet. Saipem has signed with Eni Muara Bakau B.V.

Eni Confirms Output Target, Puts Saipem Stake on Block

Italian oil and gas group Eni on Thursday confirmed a previous target for an average annual growth rate of 3 percent in oil and gas production in the period 2014-2017. In a statement Eni said its 43 percent stake in oil services group Saipem was non-core…

Saipem Lowers 2014 Net Profit Guidance Range

Italian oil services group Saipem cut its full-year guidance range for the year on Tuesday after posting a second-quarter net profit that beat market consensus. Saipem, which is 43 percent owned by oil major Eni, said in a statement it expected…

Valemon Topsides Installed

On Monday, July 28, the topsides were lifted into place on the steel jacket on the Valemon field in the North Sea. Produced by Samsung Heavy Industries this is the first Statoil topsides built in South Korea. The structure sailed from the yard on June 15 this year…

Eni to Revive Saipem Sale Plans

The new management of Italy's Eni plans to press on with the sale of a controlling stake in oil services subsidiary Saipem so it can focus on the more lucrative business of finding oil and gas, sources said. Former ENI CEO Paolo Scaroni had…

Polish LNG Terminal Consortium Needs More Money

The consortium building Poland's first liquefied natural gas (LNG) terminal is in talks to increase the amount it is being paid, but there is no risk to the completion of the project, one of the contractors told Reuters on Friday. The import terminal is being built on Poland's Baltic coast…

EU's Planned Sanctions Against Russia to Hit South Stream, Yamal LNG

South Stream pipeline, Yamal LNG rely on western technology EU proposes to target sensitive technologies in energy sector Pipelines, wells, drilling platforms are listed The European Union's proposed sanctions against Russia, targeting sensitive technology…

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