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Saipem Gets Mexico, Australia Deals Worth More Than $800 Million

Date : 11/22/2012 @ 3:48PM
Source : Dow Jones News
Stock : Eni (ENI)
Quote : 13.88  0.07 (0.51%) @ 9:05PM
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Saipem Gets Mexico, Australia Deals Worth More Than $800 Million

Saipem (BIT:SPM)
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By Liam Moloney

Saipem SpA (SPM.MI), Europe's biggest oil services company by market value, Thursday said it received contracts worth more than $800 million in Mexico and Australia.

In a statement, Saipem said a subsidiary of TransCanada Corp. (TRP) awarded it an engineering, procurement and construction contract for a natural gas pipeline between El Encino, located in the Mexican state of Chihuahua, to Topolobampo, in Sinaloa. This project is expected to be completed in the first quarter of 2016.

In Australia, Santos GLNG agreed to increase Saipem's scope of work within the framework of the Santos GLNG gas Transmission Pipeline Project in Queensland, Saipem said. These works will be completed in 20 months.

Write to Liam Moloney at liam.moloney@dowjones.com

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