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    SPM   IT0005252140

SAIPEM S.P.A.

(SPM)
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Real-time Estimate Quote. Real-time Estimate Cboe Europe - 01/18 10:50:47 am
1.975 EUR   -2.18%
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Saipem, award of $750 million contract for Jafurah gas field

12/01/2021 | 09:09am EST

San Donato Milanese - Saipem has signed a new contract with Saudi Aramco on the Jafurah Development Program in Saudi Arabia.

The project involves the construction of a hydrocarbon collection system and the transport of gas and condensate to the new Jafurah plant, in the Eastern Province of Saudi Arabia. Saipem will also build a system to transport water associated with the separation of the treated gas. The contract has a total value of approximately USD 750 million.

The EPC (Engineering, Procurement, Construction) contract includes the engineering, supply of materials, construction, and commissioning of approximately 835 km of pipelines for the transportation of gas, condensate and production water.

Francesco Caio, Saipem's CEO, commented: 'The award of this new project from Aramco consolidates a long-standing relationship and Saipem's strategic positioning in the Middle East. The agreement confirms the trust and appreciation of our customers in the project management capacity and in the cutting-edge engineering and technological services that Saipem is able to offer'.

Saipem is an advanced technological and engineering platform for the design, construction and operation of safe and sustainable complex infrastructure and plants. Saipem has always been oriented towards technological innovation and is currently committed, alongside its clients, on the frontline of energy transition with increasingly digitalised tools, technologies and processes that were devised from the outset with environmental sustainability in mind. It is listed on the Milan stock. It operates in over 60 countries around the world with 32 thousand employees from 130 different nationalities.

Contact:

Tel: +39 0244231

Email: media.relations@saipem.com

Web: www.saipem.com

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
SAIPEM S.P.A. -2.03% 1.976 Delayed Quote.7.21%
SAUDI ARABIAN OIL COMPANY 0.41% 36.9 End-of-day quote.3.07%
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Analyst Recommendations on SAIPEM S.P.A.
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Financials
Sales 2021 7 427 M 8 456 M 8 456 M
Net income 2021 -1 007 M -1 147 M -1 147 M
Net Debt 2021 1 682 M 1 915 M 1 915 M
P/E ratio 2021 -2,04x
Yield 2021 0,03%
Capitalization 1 998 M 2 279 M 2 275 M
EV / Sales 2021 0,50x
EV / Sales 2022 0,45x
Nbr of Employees 32 000
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Mean consensus HOLD
Number of Analysts 18
Last Close Price 2,02 €
Average target price 1,90 €
Spread / Average Target -5,75%
EPS Revisions
Managers and Directors
Francesco Caio Chief Executive Officer, Director & GM
Antonio Paccioretti CFO & Manager-Financial Reporting
Silvia Merlo Chairman
Paul Simon Schapira Independent Non-Executive Director
Roberto Diacetti Independent Non-Executive Director
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