Reported by Consejeros Editorial Team
The Spanish oil services company has been awarded two major projects for the engineering, procurement and construction of upstream facilities for the production management of an oil field in the Middle East, as reported by the company to the National Securities Market Commission (CNMV). No further details of the works have been disclosed, not even the contract value, due to confidentiality requirements; the company has merely confirmed that the client is a national oil company. Analysts at Renta4 estimate that the contract value could be between $5,000 and $6,000 million. They also expect further contracts to be secured in the short term. It should be noted that Técnicas Reunidas announced during the presentation of its Q1 26 results that it expected to be awarded contracts worth between $4,000 and $8,000 million in the Middle East in the near future.
The preliminary peace agreement reached between the US and Iran will also act as a positive catalyst for the company. Not only does it allay the risk of additional provisions on top of the €45 million set aside in the first quarter of the year to address the impact of the conflict, but it also opens up a new window of opportunity for potential contracts linked to the reconstruction of damaged infrastructure.
