The Press and Journal (Inverness, Highlands, and Islands)
SERVICES
Saipem has reported contract wins worth £304.9 million in the North Sea, Azerbaijan and the Republic of Congo.
The Italian engineering services firm was hired in August for work on Premier Oil’s newly-sanctioned Tolmount development in the southern North Sea.
It is carrying out pipeline engineering, procurement construction and installation at Tolmount.
The company was hired by Humberside Gathering System, owned by CATS management, on behalf of the development partners, including Dana Petroleum.
Humberside Gathering System and Dana are paying for the platform and infrastructure in the deal.
Tolmount is expected to produce around 96 million barrels of oil equivalent.
In April, Saipem was also awarded a subsea, umbilicals, flowlines and risers (Surf ) contract for the Absheron field in the Caspian Sea owned by Total and Socar Absheron.
Finally, the firm was awarded a 36-month contract by Eni Congo at its sites for maintenance services and modifications.
Chief operating officer of Saipem’s E&C offshore division, Stefano Porcari, said: “These new offshore contracts confirm Saipem’s success in achieving its strategy aimed at consolidating its leadership in traditional markets, such as Surf, conventional and pipelines, as well as at diversifying its business in non-oil capex segments, such as the modifications maintenance operations market.” retailers showed no sign of letting up as Superdry became the latest to warn over profits, sending its shares down more than 21%, or 215p, at 800p.
Sterling had a relatively uneventful day as it clawed back lost ground against the dollar to end up 0.4% at 1.316 at the London close.
Versus the euro, the pound was trading up 0.1% at 1.135.
France’s CAC 40 was up 0.14% while Germany’s Dax rose 0.78%.
A barrel of Brent Crude was trading at $80.1, a rise of 0.4%.
Risers on the FTSE 100 included Randgold Resources up 298p at 6,082p, Paddy Power Betfair up 275p at 6,290p, Fresnillo up 35.8p at 912.2p and Imperial Brands up 70.5p at 2,587p.
Fallers in cluded BAE Systems down 22.4p at 561.8p, Ocado down 23.4p at 789.8p, Melrose Industries down 4.85p at 465.65p and Rightmove down 8.35p at 425.5p.
The high street bloodbath showed no sign of letting up