19 Nov 2015 09:36
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Don't have an account? Click here to register.Amec gets Abu Dhabi field contract extension
Tue, 18th Aug 2015 07:35
(ShareCast News) - Engineering firm Amec Foster Wheeler was awarded an extension from Zakum Development Company for its UZ750 project, the company said in a release.Amec did not disclose the financial value of the contract for to redevelop the Upper Zakum field, north-west of Abu Dhabi. It had started work on the oil field in 2008, which was expected to be completed in 2017.Zakum Development Company operated the field through a venture involving the Abu Dhabi National Oil Company, ExxonMobil and the Japan Oil Development Company.The Upper Zaku Field was recognised as the second largest oil field in the Gulf and comprises four artificial islands with associated drilling and production facilities.Amec group president for Asia, Middle East, Africa & Southern Europe Roberto Penno said the project was "strategically important.""The Middle East is a key growth area for Amec Foster Wheeler and we look forward to continuing our relationship with ZADCO on this next important phase of work," he said.
More News
6 Nov 2015 13:47
FTSE 250 movers: Tullett Prebon and ICAP acquisition talks boost market
(ShareCast News) - The FTSE 250 is on track to finish the week on a high, with the market up 99.55 points (0.58%) mid-afternoon Friday to 17,216.68 points. Tullett Prebon and ICAP were the biggest risers on the back of confirmation that Tullett Prebon is in discussions regarding the possible acquisi
Read more6 Nov 2015 12:00
Citi, UBS downgrade Amec but SocGen keeps at 'buy' after share price slump
(ShareCast News) - Amec Foster Wheeler shares were under pressure again on Friday, having suffered heavy losses in the previous session when the oil and gas engineering services company said it was cutting its dividend by half amid tough market conditions. Citigroup downgraded the stock to 'neutral'
Read more6 Nov 2015 11:43
Friday newspaper share tips: Sell as Amec Foster Wheeler faces more pain
(ShareCast News) - Traders should sell shares in Amec Foster Wheeler as the company prepares for the long haul, according to The Telegraph's Questor. The oil and gas engineering services company announced on Thursday it was cutting its dividend by half and lifting its cost-savings target from £120m
Read more6 Nov 2015 11:14
Friday broker round-up
(ShareCast News) - Weir Group: Citigroup downgrades to neutral. Target price: 1200.00p Amec Foster Wheeler: UBS downgrades to neutral, cuts target price to 600.00p. Citigroup downgrades to neutral. JP Morgan Cazenove reiterates to overweight, reduces target price to 739.00p Rsa Insurance Group:
Read more5 Nov 2015 16:36
London close: Copper prices weigh on Footsie despite dovish MPC
(ShareCast News) - Equities ended near their worst levels of the day despite a dovish set of minutes from the Bank of England's last Monetary Policy Committee meeting, weighed down by a further drop in commodity prices. Following its meeting, the MPC said there were downside risks to growth
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