** Shares in Italy's Saipem MIL:SPM rise around 2% today after Banca Akros highlighted reports from Upstream Online naming the company's joint venture with China's COOEC as the frontrunner for a $5 billion contract in Qatar
** The contract is part of Qatar's North Field Production
Sustainability (NFPS) project
** "According to the foregoing source, a decision has not been made yet by QatarEnergy LNG," the Italian brokerage says
** It however notes that in September 2024 Saipem won an offshore EPC contract by QatarEnergy LNG valued at around $4 billion
** The brokerage, which rates the company at "buy", sees the "large" contract as "very positive news" in case closing is confirmed