Q3 2020 Saipem SpA Earnings Call Transcript
Ladies and gentlemen, thank you for standing by, and welcome to the Saipem 9 months 2020 results. (Operator Instructions) For your information, this conference is being recorded.
Now I would like to hand the conference over to your speaker today, Mr. Stefano Cao, CEO. Please go ahead, sir.
Good morning, and welcome to Saipem's 9 months 2020 results. I'm joined today by Stefano Cavacini, our CFO; and Max Cominelli, our Head of Investor Relations.
The spread of the coronavirus has continued since July at different speeds across different geographies since July. In parallel, volatility in the wider economy and the oil sector, in particular, has continued, although the oil price has ended the quarter at a similar level to where it began. Through discontinued uncertainty, Saipem has focused on navigating safely through the crisis with the health of our people as our top priority. Q3 saw fewer commercial awards than Q1 and Q2. But over the first 9 months, we have won projects worth EUR 5.3 billion. Most of these are nonoil-related projects,
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