SAIPEM
Saipem is a prominent engineering, drilling, and construction services company that operates predominantly in the energy and infrastructure sectors. It has a substantial presence on a global scale and is renowned for its comprehensive expertise in both offshore and onshore projects. Here are some key aspects about Saipem:
History and Background
- Founded: Saipem was established in 1957 and is headquartered in Milan, Italy.
- Ownership: Historically, Saipem has been linked with the Italian energy behemoth Eni S.p.A., which has been a significant shareholder, although the company operates as a separate entity.
Key Areas of Operation
Engineering & Construction:
- Offshore Projects: Saipem is heavily involved in the development of offshore oil and gas platforms, floating production units, subsea pipelines, and other infrastructure essential for deepwater oil and gas extraction.
- Onshore Projects: The company also specializes in the construction of refineries, gas treatment plants, and pipelines.
Drilling Services:
- Offshore Drilling: Saipem provides drilling services involving the use of semi-submersible rigs, drillships, and jack-up rigs for deepwater and shallow water operations.
- Onshore Drilling: The company offers rig services for onshore exploration and production activities.
Renewable Energy: Saipem is diversifying its portfolio to include renewable energy projects, such as the development and construction of wind farms and other sustainable energy solutions.
Decommissioning: Saipem also offers services related to the decommissioning of oil and gas installations that have reached the end of their operational life.
Innovations and Technologies
- Digitalization and Automation: Saipem leverages cutting-edge technologies such as digital twins, IoT (Internet of Things), and automation to enhance the efficiency and safety of its operations.
- Sustainable Practices: The company prioritizes sustainability, aiming to minimize environmental impact and contribute positively to the communities where it operates.
Global Presence
Saipem operates in multiple regions:
- Europe: Extensive operations in Italy, the North Sea, and other parts of the continent.
- Middle East and Africa: Significant projects in countries like Saudi Arabia, Nigeria, and Egypt.
- Americas: Active in both North and South America with various oil and gas ventures.
- Asia-Pacific: Engaged in numerous projects in Southeast Asia, Australia, and other parts of the region.
Financial Performance
Saipem is listed on the Milan Stock Exchange and has a diverse shareholder base. The company's financial performance is closely watched by investors, given its high-profile contracts and significant role in the energy sector.
Challenges and Future Outlook
- Market Volatility: The company faces challenges due to fluctuating oil prices, geopolitical uncertainties, and evolving environmental regulations.
- Energy Transition: With the global shift towards renewable energy, Saipem is investing in new technologies and projects to adapt to the changing energy landscape.
Overall, Saipem remains a key player in its industry, known for its ability to undertake complex and large-scale projects worldwide.
Oil & Gas Services
- Phone: +39 02 520 54480
- Web: www.saipem.it
- Fax: +39 02 520 34617
Locations
Saipem News
Saipem Unveils AI-Backed Safety Harness for Workers at Height
Saipem has launched the LiSa Hyper Harness, a smart safety harness equipped with sensors and artificial intelligence designed to enhance worker safety during operations at height.The device monitors how workers connect to fall protection systems and alerts both the operator and a supervisor if the connection is missing or incorrect. The harness emits an acoustic signal, similar to a car seatbelt warning…
NextGeo Gets $9.8M Job for Saipem Offshore Libya
Italian offshore services provider Next Geosolutions (NextGeo) has secured a new contract worth around $9.8 million by Saipem for offshore survey and installation support activities under the Bouri Gas Utilization Project (BGUP) in North Africa.The contract covers survey and construction support work for the development of the Bouri gas field, located off the Libyan coast, one of the largest offshore…
Saipem Wins Three Offshore Azerbaijan Contracts
Saipem, in consortium with BOS Shelf LLC and BOS Shelf International FZCO, (both companies being affiliates to the State Oil Company of the Azerbaijan Republic, SOCAR) has been awarded three new offshore contracts for the Shah Deniz Compression project operated by bp in Azerbaijan.The overall value of the contracts is approximately $700 million, and Saipem’s share amounts to $600 million.Saipem’s scope of work encompasses the transportation and installation of a new 19…
Boskalis’ Blue Marlin Transporting ‘Colossal’ FPU for Congo LNG Project
Dutch offshore services provider Boskalis has engaged its heavy transport vessel Blue Marlin to move a recently converted floating production unit (FPU) to Angola, ahead of its deployment at Congo’s first natural gas liquefaction project.The cargo, formerly one of the largest semi-submersible drilling rigs of its generation, has been converted into an FPU is currently en route to Angola on Blue Marlin vessel.Even though the 80-by-68-meter, 41,000-ton structure is five meters wider than the 63-me
Saipem Milestone in Guyana Yellowtail Project
Saipem reports it has successfully completed its designated scope of work for the development of the Yellowtail field, operated by ExxonMobil Guyana Ltd., locatedin approximately 1,800m of water within the Stabroek Block offshore Guyana.Awarded the contract in 2022, Saipem undertook the Engineering, Procurement, Construction, and Installation (EPCI) of the Subsea Umbilical, Riser, andFlowline (SURF) system for the Yellowtail field.
Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard
The First Steel Cutting ceremony took place at Saipem’s Karimun fabrication yard, marking the official start of construction activities for the Tangguh UCC project, awarded by bp Indonesia.The event was attended by representatives of the client, local and national government bodies, together with key members of Saipem’s management team gathered to celebrate this significant milestone achievement.The Tangguh UCC project…
Saipem Shares Financial Results for First Half of 2025
Saipem achieved a semester of further growth, confirming the constant progression in operating and financial performance over the last three years which enabled, in the month of May, the distribution of the largest dividend in the company's history.Revenue stood at USD$8.47 billion (€7.2 billion), and EBITDA reached USD$898 million (€764 million), the latter growing by 35% compared to the first six months of last year.
Saipem Renews Offshore Activities Agreement With Saudi Aramco
Saipem has signed a renewal for its framework agreement with Saudi Aramco. The Long-Term Agreement (LTA) now extends until the end of 2027.With the renewal of the LTA, Saipem is reconfirmed in the exclusive list of contractors selected by Saudi Aramco who are eligible to bid for work orders, known as CRPOs (Contract Release Purchase Orders). These contracts may relate to both the construction of new…
Italy’s Saipem and Norway’s Subsea7 Merger to Create Energy Services Giant
Energy services firms Saipem and Subsea7 have reached an agreement on the key terms for possible merger of the two companies under one unit to be named Saipem7, whose combined backlog would be over $45 billion.Saipem and Subsea7 shareholders will own 50% each of the share capital of the combined company, whose revenue is expected to be around $20.9 billion, and core earnings in excess of $2 billion.Saipem7 will become a global organization of over 45…
Saipem’s Castorone Vessel on Its Way to Türkiye’s Largest Gas Field
Saipem’s pipelay vessel Castorone has crossed the Bosphorus Strait in Türkiye, continuing its journey toward the Black Sea for a pipeline installation job as part of the second phase of the Sakarya project for Turkish Petroleum - Offshore Technology Center (TP – OTC).In the early hours of December 26, the vessel crossed the Dardanelles Strait, covering a distance of 36 nautical miles in approximately six hours.In the afternoon, it continued its journey through the Sea of Marmara.
Saipem Adds Heavy-Lift Pipelay Vessel JSD6000 to Its Fleet
Italian offshore energy services firm Saipem has signed a long-term charter contract with Chinese state-owned port and naval machinery manufacturer ZPMC for the JSD6000, a latest generation ship for offshore heavy lifting, construction and pipelaying.The signed contract provides for the bareboat charter of the ship for a five-year duration, plus two extension options of one year each.The vessel will…
Subsea Vessel Market is Full Steam Ahead
Since our last market update in the subsea space about a year ago both our current market view and forecasts have strengthened significantly.While the demand picture is looking solid and arguing for a strong multi-year upcycle, the supply side has also started to wake from its slumber albeit ever so slightly at the time of writing. Moreover, we register an interesting dynamic on the shipowner side…
MDL Assists Saipem on Gastrade’s LNG Development Off Greece
Maritime Developments (MDL) has assisted Saipem in progressing an LNG project offshore Greece, which included work on the connection of Gastrade’s Alexandroupolis floating storage regasification unit (FSRU) to the country’s gas transmission system.The project consisted of a FSRU and a mooring and pipeline system, connecting the floating unit to the Greek National Natural Gas Transmission System (NNGTS).An MDL flex-lay spread was used for the installation of two flexible risers…
Saipem and Fincantieri Form Subsea Alliance
Saipem and Fincantieri have signed a memorandum of understanding (MoU) to evaluate commercial and industrial opportunities for cooperation in the field of autonomous subsea vehicles (AUV) and their integration with surface and underwater units.The MoU is among the initiatives aimed at promoting and developing Italy’s national excellence in the underwater sector.The agreement aims to enable the two…
Saipem Gets Offshore Pipelines Installation Job for CCS Schemes in UK
Saipem has signed a letter of intent for the development of CO2 offshore transportation and storage facilities as part of the Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZTP) projects for the East Coast Cluster in the UK.Saipem signed a Letter of Intent, received by the Northern Endurance Partnership (NEP), a joint venture between the operator BP, Equinor, and TotalEnergies, and Net Zero Teesside Power (NZT Power)…
Back to School: Virtual Field Trip for 27,000 Students onboard Saipem 7000
As the maritime and offshore industries cumulatively search for ways to attract the 'next generation,' Saipem has come up with an innovative approach that gives thousands of students the ability to virtually visit work in the offshore environment: two days on board a naval vessel engaged in the construction of a large wind farm in the North Sea. This is the experience that almost 27,000 elementary…
DNV Gives Thumbs Up to Moss Maritime's LH2 Ship Transport Solution
Moss Maritime, Norwegian company specializing in design and engineering services to the offshore energy industry as well as other ocean-based sectors and a subsidiary of Italy's Saipem, has secured an Approval in Principle (AIP) from the classification society DNV for a containment system for ship transport of liquefied hydrogen (LH2).Ship transport of liquefied hydrogen is seen as one of the key technical challenges in realizing the energy transition to a carbon-free future…
Seaway7 and Saipem Partner in Pursuit of Offshore Wind Work
Subsea 7's renewables-focused offshore installation subsidiary Seaway7 on Thursday announced it has struck a deal with offshore services company Saipem to collaboratively pursue projects in the growing offshore wind industry.Under the commercial collaboration agreement, the companies plan to jointly identify, bid and execute fixed offshore wind projects, seeking those "where the combined utilization of the companies’ complementary world-class assets…
Saipem to Use Biofuels on Drilling and Construction Vessels in Mediterranean Sea
Eni's subsidiary Eni Sustainable Mobility and offshore services company Saipem have entered into a Memorandum of Understanding (MoU) to utilize biofuels on Saipem's drilling and offshore construction vessels, focusing on operations in the Mediterranean Sea.Saipem, based in Italy, has a global fleet of 45 vessels for construction and drilling."The MoU represents an important milestone for Eni and Saipem…
Saipem Confirms Targets After Return to Core Profit
Italy's Saipem on Wednesday confirmed its 2022 guidance and the targets in its business plan after the energy services group reported a first-half adjusted core profit of 321 million euros ($325 million).Investors this month agreed to fund only 1.4 billion euros of a life-saving 2 billion euro cash call, leaving the underwriting banks to mop up the remaining new shares.
