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MarketScreener Homepage  >  Equities  >  Italian Stock Exchange  >  Saipem    SPM   IT0005252140

SAIPEM

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Anadarko Moving Forward on Mozambique LNG Development

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06/18/2019 | 04:30pm EDT

By Stephen Nakrosis

Anadarko Petroleum said Tuesday its plan of development for Mozambique's first onshore LNG development is now effective, as an official declaration of Final Investment Decision has been made.

Anadarko's Area 1 development initially will consist of two LNG trains to support the development of the Golfinho/Atum fields, along with an anticipated domestic gas component for in-country consumption.

"The project expects to soon issue Notices to Proceed under the terms of the previously executed engineering, construction, procurement and installation contracts and finalize financing," Anadarko said.

TechnipFMC, Oceaneering International and Saipem S.p.A. are among the international companies that will be working on various aspects of the project, Anadarko said.

Anadarko said about 5,000 workers already are on site, involved with construction of a resettlement village, camp expansion, airstrip and Palma-Afungi Highway.

"This is a historic day for the people of Mozambique," said President Filipe Nyusi. "Today's sanctioning of the Anadarko-led Area 1 Mozambique LNG project solidifies a path toward the creation of thousands of jobs for our people, significant economic growth for our nation, and the potential to be one of the world's largest providers of cleaner energy for decades to come. It is truly one of the most important and transformational projects in our country's history."

Anadarko Chairman and Chief Executive Al Walker said, "This is an exciting day for Mozambique and for our partnership, bringing us a step closer to making Mozambique's first onshore LNG facility a reality."

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ANADARKO PETROLEUM 0.22% 69.91 Delayed Quote.59.12%
DEAR LIFE CO., LTD. -0.66% 454 End-of-day quote.12.10%
JAPAN POST HOLDINGS CO LTD -0.17% 1189 End-of-day quote.-4.96%
OCEANEERING INTERNATIONAL 4.14% 18.37 Delayed Quote.45.79%
PALMA CO LTD -0.16% 621 End-of-day quote.-5.62%
SAIPEM 3.72% 4.295 End-of-day quote.31.55%
TECHNIPFMC 2.99% 23.76 Delayed Quote.17.82%
WTI -0.68% 53.83 Delayed Quote.15.99%
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Latest news on SAIPEM
06/18Anadarko Moving Forward on Mozambique LNG Development
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Financials (€)
Sales 2019 8 974 M
EBIT 2019 488 M
Net income 2019 128 M
Debt 2019 1 203 M
Yield 2019 -
P/E ratio 2019 33,89
P/E ratio 2020 18,03
EV / Sales 2019 0,61x
EV / Sales 2020 0,54x
Capitalization 4 263 M
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 5,64 €
Spread / Average Target 34%
EPS Revisions
Managers
NameTitle
Stefano Cao CEO & Non-Independent Executive Director
Francesco Caio Chairman
Federico Ferro-Luzzi Independent Non-Executive Director
Maria Elena Costanza Cappello Independent Non-Executive Director
Claudia Carloni Non-Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
SAIPEM31.55%4 460
SCHLUMBERGER NV1.61%49 158
BAKER HUGHES4.19%22 650
HALLIBURTON COMPANY-17.34%18 878
TECHNIPFMC17.82%9 445
NATIONAL OILWELL VARCO-20.86%8 189