Saipem: awarded two new offshore contracts in Australia and Guyana, for a total amount of 1.1 billion USD

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Saipem has been awarded two new offshore contracts in Australia and Guyana, for a total amount of 1.1 billion USD.

Regarding the first contract, Saipem has received the Notice to Proceed (NTP) from Woodside, as Operator for and on behalf of the Scarborough Joint Venture, for a contract related to the Scarborough project. Saipem will complete the export trunkline coating and installation of the pipeline that will connect the Scarborough gas field with the onshore plant. 

The Scarborough gas resource is located in the Carnarvon Basin, offshore Western Australia, and it will be developed through new offshore facilities connected by an approximately 430 km export trunkline with a 36”/32” diameter to a second LNG train (Pluto Train 2) at the existing Pluto LNG onshore facility. The development will be among the lowest carbon intensity sources of LNG globally. The first cargo is expected to be delivered in 2026.

The work assigned to Saipem is relevant to coating, transportation and installation of the trunkline, at a maximum water depth of 1,400 meters, including the fabrication and installation of the line structures and of the pipeline end termination in 950-meter water depth. Offshore operations are planned to start in mid-2023 and will be mainly conducted by the Castorone vessel.

The Scarborough Joint Venture comprises Woodside Energy Scarborough Pty Ltd (73.5%) and BHP Petroleum (Australia) Pty Ltd (26.5%). Woodside and BHP announced on 22 November 2021 that a final investment decision has been made by the Scarborough Joint Venture to proceed with the Scarborough Project.

The second contract has been assigned to Saipem by Esso Exploration and Production Guyana Limited (EEPGL), a subsidiary of ExxonMobil, for the Yellowtail development project located in the Stabroek block offshore Guyana at a water depth of around 1,800 meters. 

Pending the necessary government authorizations and investment approval, the assignment of the contract allows the start of initial engineering and procurement activities necessary to proceed in accordance with the project program.

The contract relates to the Engineering, Procurement, Construction, and Installation (EPCI) of the Subsea Umbilicals, Risers & Flowlines (SURF). 
Yellowtail is intended to be a greenfield development project encompassing subsea drilling centres, (each equipped with separate oil production, water injection and gas injection wells), linked to a new FPSO (Floating Production Storage and Offloading Unit).

Saipem’s flagship vessel FDS2 will conduct the offshore operations while Saipem’s fabrication facility in Guyana will build the deepwater structural elements. 
Francesco Caio, CEO and General Manager of Saipem, commented: “The award of these contracts represents a significant confirmation of the trust of our clients in Saipem’s ability to execute complex offshore projects worldwide. The Scarborough project will be mainly conducted by the Castorone vessel, our versatile and state-of-the-art asset, representative of the innovative and world-class offer which Saipem is able to provide the market. The recently opened Saipem fabrication facility in Georgetown will be involved in the execution of the Yellowtail project, ensuring a positive and tangible impact on the country”.

Source: Saipem

Saipem has been awarded $750 million EPC contract for Jafurah gas field

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Saipem has signed a new contract with Saudi Aramco on the Jafurah Development Program in Saudi Arabia. The project involves the construction of a hydrocarbon collection system and the transport of gas and condensate to the new Jafurah plant, in the Eastern Province of Saudi Arabia. Saipem will also build a system to transport water associated with the separation  of the treated gas. The contract has a total value of approximately USD 750 million.

The EPC (Engineering, Procurement, Construction) contract includes the engineering, supply of materials, construction, and commissioning of approximately 835 km of pipelines for the transportation of gas, condensate and production water.

Francesco Caio, Saipem’s CEO, commented: “The award of this new project from Aramco consolidates a long-standing relationship and Saipem’s strategic positioning in the Middle East. The agreement confirms the trust and appreciation of our customers in the project management capacity and in the cutting-edge engineering and technological services that Saipem is able to offer”.

Source: Saipem

Saipem has been awarded a new offshore contract for the Búzios 7 project in Brazil, worth approximately 940 million USD

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Saipem has been awarded by Petrobras a new SURF EPCI contract for the installation of a rigid riser-based subsea system for the Búzios 7 project, to serve the pre-salt field located about 200 km offshore the state of Rio de Janeiro, in water depths of around 2,000 meters. 

The project awarded to Saipem includes the Engineering, Procurement, Construction and Installation (EPCI) of the Steel Lazy Wave Risers (SLWR) and associated flowlines interconnecting 15 subsea wells to the FPSO together with the related service lines and control umbilicals. Furthermore, Saipem will also be responsible for the provision and installation of the FPSO anchors and for the hook up of the FPSO at field.

Saipem will use its FDS, its state-of-the-art field development ship, for the installation of the SLWRs.

In July 2020 Saipem had already been awarded a contract by Petrobras for the Buzios 5 project for the Engineering, Procurement, Construction and Installation (EPCI) of the Steel Lazy Wave Risers (SLWR) and associated flowlines between all wells and the FPSO.  

Francesco Caio, CEO and General Manager of Saipem commented: “This project is a further important evidence of a new investment cycle and of Saipem’s competitiveness in projects with a high technological content. The contract also confirms the trust placed in Saipem by major clients such as Petrobras for the realization of projects central to their strategies, as well as it confirms the solid position of the company in geographic areas with significant development prospects”.

Source: Saipem

Saipem has been awarded two new offshore contracts for transportation and installation activities (T&I) for a total amount of over 600 million USD

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The first contract was awarded by Chevron Australia Pty Ltd for the Jansz-lo Compression Project, the gas field located around 200 kilometres offshore the north-western coast of Australia, at water depths of approximately 1,400 meters. Jansz-lo is part of the Chevron-operated Gorgon Project, a grouping of different fields and one of the world’s largest natural gas developments.

Offshore operations are planned to start in 2024 and they will be conducted by the Constellation vessel. 

The second contract regards the Sakarya Gas Field Development project, the first deepwater natural gas field discovered in Turkey in the Black Sea, about 175 km offshore the coast of Eregli. The contract entails the transportation and installation of pipelines to 2,200-meter water depth. The offshore operations are to begin in spring 2022 and will be conducted mainly by the Castorone vessel. 

Francesco Caio, CEO and General Manager of Saipem, commented: “The award of these two important contracts highlights our solid expertise in subsea installation and our world-class assets as well as being a tangible sign of recovery of the offshore market. These new contracts in the gas sector, a fundamental element of the energy transition, provide solid indications of the improvement in demand and testify to Saipem’s capability of offering solutions in line with its clients’ needs”.

Saipem is an advanced technological and engineering platform for the design, construction and operation of safe and sustainable complex infrastructure and plants. Saipem has always been oriented towards technological innovation and is currently committed, alongside its clients, on the frontline of energy transition with increasingly digitalised tools, technologies and processes that were devised from the outset with environmental sustainability in mind. It is listed on the Milan stock exchange and operates in over 60 countries around the world with 32 thousand employees from 130 different nationalities.

Source: Saipem

EDISON AND SNAM ALONGSIDE SAIPEM AND ALBORAN FOR THE GREEN HYDROGEN VALLEY PROJECT IN PUGLIA REGION (Italy)

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Edison and Snam have signed a Memorandum of Understanding (MoU) along with Saipem and Alboran Hydrogen – who had both already signed a cooperation agreement last January – for the joint development of the Puglia Green Hydrogen Valley project,one of the first large-scale initiatives for the production and transport of green hydrogen in Italy.

The aim of this project is to help accelerate the uptake of green hydrogen – one of the key components of the EU’s decarbonisation strategy – within Italy’s energy mix to ensure national and European climate neutrality targets are met by 2050.

The Puglia Green Hydrogen Valley project plans to build three green hydrogen production plants in Brindisi, Taranto and Cerignola (Foggia) for a combined capacity of 220 MW and powered by a photovoltaic production of 380 MW in total. Once the three plants are operational, it is forecasted that they will be able to produce about 300 million cubic metres of renewable hydrogen every year.

This green hydrogen will be used primarily for local industries, including through injecting – or blending – the hydrogen into Snam’s local gas network and/or employed for sustainable mobility.

For one of these three plants, the authorisation process is already underway for the Brindisi project which will involve the construction of a production plant for green hydrogen using electrolysers with a capacity of 60 MW that will be powered by a PV farm.

The entire Puglia Green Hydrogen Valley project will enable to sustain and involve key regional players, including the Acquedotto Pugliese water supply company, the Appulo Lucane Railways, Puglia’s technological and production districts, the Polytechnic of Bari, the Universities of Bari, Foggia and Salento. Moreover, there will be investments in the research and development aimed at promoting the creation and development of competencies and a production chain dedicated to the hydrogen industry in Puglia.

The agreement represents a fundamental milestone in the establishment of a hydrogen industry in Italy by creating new opportunities in terms of employment and competencies.

With this agreement Edison confirms its role as a key player also in the sector of green hydrogen, a technology that has synergies both with the company’s core business, which covers the entire value chain in the energy sector, and with its strategic development plan.

Thanks to the most extensive network in Europe and its technological expertise, Snam is promoting its role as an enabler of the hydrogen valley ventures, by contributing to the development of projects and connecting production and consumption points.

Saipem wishes to emphasise the importance of this project in terms of its contribution to the recovery plan for Italy. The company is involved in the development of technologies and innovative business models in the green hydrogen and renewable energies sectors as part of the evolution process of its portfolio of skills. Saipem confirms its role as the ideal partner for supporting its clients in the energy transition process in order to meet net zero targets.

Finally, Alboran’s determinations regarding green hydrogen are perfectly aligned with the Italian and European strategies. The involvement of other strategic partners in this venture will make it possible to maximise the potential of the project model that has been proposed for Puglia.

In order to execute the project, the partners anticipate creatinga special purpose company (Alboran 30%, Edison 30%, Snam 30%, Saipem 10%) following the signing of binding agreements that still have to be negotiated by the parties,based on the relevant regulatory frameworks, including the ones concerning operations among related parties.

Source: Saipem

Saipem and Siram Veolia sign a Memorandum of Understanding to collaborate on energy transition projects in Italy

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Saipem and Siram Veolia have signed a Memorandum of Understanding (MoU) relating to a collaboration agreement for the implementation of projects focused on the energy transition in Italy. In particular, the two companies intend to pursue opportunities in the treatment and reuse of water and waste, the generation of biogas and biomethane, the energy efficiency of industrial plants, and the implementation of new technologies for heat and power generation.

Through this MoU, Saipem and Siram Veolia will also evaluate specific initiatives that fall within the Recovery and Resilience Facility Plan, through which funds will be available to support Member States of the European Union in the post-COVID-19 phase.

The agreement also aims to contribute to the evolution of the Italian industrial segment by leveraging the skills of the companies, both of which are excellences in the energy and environmental sectors.

Saipem will supply solutions aimed at increasing the sustainability of production complexes and enabling cutting-edge technologies for utility plants. To this end, Saipem can bring its consolidated skills in the design and implementation of execution projects for utility plants, integrating different processes, solutions, and technologies, taking into account the knowledge and experience gained in the construction of power generation, water, waste and gas treatment plants.

Siram Veolia, the Italian subsidiary of the Veolia Group, world leader in the management and optimisation of environmental resources, is active in both the public and private Italian Energy Efficiency, Optimised Water and Special Waste Management markets and has, among its main targets, the plant financing, and maintenance and operation.

Maurizio Coratella, Chief Operating Officer of Saipem’s Onshore E&C Division, said: “The collaboration agreement we signed with Siram Veolia aims to pool our mutual experiences and specificities with the goal of contributing to the country’s energy transition process. In this sense we are committed to offering our clients innovative solutions that support them in reaching their goals and that are adequate for meeting the challenges posed by the new energy and environmental scenario, diversifying our activities and investing in renewables”.

Emanuela Trentin, Director of Siram Veolia, commented: “We are very satisfied with the partnership with Saipem in this time of great challenges for the relaunch of our country. The consolidated and complementary experience in the implementation and management of large projects can provide the guarantee to use the resources of the Recovery and Resilience Fund in compliance with the established timeframes and performances. The ability to propose Public Private Partnership projects also makes it possible to determine a multiple effect of the available resources.”

Saipem is a leading company in the engineering, drilling and construction of major projects in the energy and infrastructure sectors. It is “One-Company” organised into five business divisions (Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling and XSIGHT, dedicated to conceptual design). Saipem is a global solution provider with distinctive skills and competences and high-tech assets which it uses to identify solutions aimed at satisfying client needs. Listed on the Milan Stock Exchange, it is present in over 60 countries worldwide and has 32 thousand employees of 130 different nationalities.

Siram Veolia is a solid and innovative group that offers sustainable solutions for the management and optimisation of environmental resources, supporting public bodies and companies in the transition to a circular economy. Siram, present in Italy for over 100 years, operates from 130 offices with a team of over 3,000 professionals and with a turnover of 700 M€. It has belonged to the multinational group Veolia, leader in Europe and in the world in environmental services, since 2014. Siram designs, finances, implements and manages highly innovative works with excellent solutions in terms of sustainability and low environmental impact. Over 99,000 tons of CO2 have been saved in the last year thanks to energy efficiency measures; over 400 water purification plants operated; 1,600 tons of special hospital waste and 138,000 tons of liquid waste were collected, handled and disposed of.

Source: www.saipem.com

Saipem awarded a contract by Eni for the construction of 3 photovoltaic plants in Italy

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Saipem has signed a contract with Eni for the construction of 3 onshore photovoltaic plants at the sites of Trecate in the province of Novara, and Marghera, located in the municipality of Venice.

Saipem will be responsible for the engineering, supply and “turnkey” construction of 3 small solar photovoltaic electricity generation plants as well as for the operational management and maintenance services in the subsequent 2 years. 
In particular, the following will be installed: a plant called PV Trecate, with a total output of 4.1 MWp to be built at the San Martino industrial hub in the municipality of Trecate and 2 plants called PV Marghera Lot 12 and Lot 15, with a total output of 3.1 MWp and 2.7 MWp respectively to be built at the Porto Marghera industrial hub.

The project assigned to Saipem contributes to the “Eni Progetto Italia” initiative which envisages projects mainly in the photovoltaic sector that enhance the industrial areas nearby Eni sites.

Source: Saipem

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Saipem: MoU signed with AGNES and QINT’X to develop one of the first wind farm in the Adriatic Sea

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Saipem will co-develop a wind farm in the Adriatic Sea off the coast of Ravenna. The company thus confirms its increasingly active presence in the field of initiatives linked to the development of offshore wind and its presence in the sector also in Italy. To this end, it has recently signed a Memorandum of Understanding (MoU) with AGNES (www.agneswindpower.com), a company that develops renewable energy projects in the Adriatic Sea, in particular offshore and nearshore wind farms, floating solar panels at sea, energy storage systems and hydrogen production from renewable sources, and QINT’X (www.quintx.com), an Italian company specialising in renewable energy, specifically solar, wind and hydroelectric energy and e-mobility (electric vehicles).

This project will involve the installation of approximately 56 turbines on fixed foundations on the seabed at two different sites: one located more than 8 nautical miles from the shore, and the other more than 12 miles from the shore. The overall installed power will be approximately 450 MW. As part of this project, innovative technologies will also be used such as floating solar technology based on the proprietary technology of Moss Maritime, which is part of Saipem’s XSIGHT division dedicated to developing innovative solutions to speed up decarbonisation process in the energy sector. In this respect, the XSIGHT division has already begun developing integrated solutions for using renewable energy and for producing “Green” hydrogen. The Agnes project will be the first project to develop such integrated solutions, offering the opportunity to find an alternative solution to decommissioning O&G platforms in the Adriatic Sea.

This project will be implemented in a highly industrialised area and the local industry will be involved in supporting it.

Source: Saipem

Saipem_Petropipe

Saipem awarded several new offshore wind contracts for a total value exceeding 90 million euros. Additional activity for the Saipem 7000 in the wind segment

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Saipem has been awarded new offshore wind contracts, for projects currently under development off the coasts of England, Scotland and France, for a total value of over 90 million euros.

Dogger Bank Offshore Wind Farms, a joint venture between Equinor and SSE Renewables, has awarded a contract to Saipem for the transportation and installation of two offshore HVDC (High Voltage Direct Current) platforms for the first two phases of the Dogger Bank project: Dogger Bank A and Dogger Bank B. Both platforms will have a capacity of 1.2 GW and will consist of a ca. 2,900-ton jacket and a ca. 8,500-ton topside. Dogger Bank will be the world’s biggest offshore wind farm when completed and is located over 130km off the North East coast of England. The project is the first to use HVDC technology in the UK’s offshore wind market.

Saipem has also been awarded an installation contract by Seaway 7 related to the Seagreen Offshore Wind Farm, a 1,075MW joint venture project between SSE Renewables (49%) and Total (51%) off the East coast of Scotland. The scope of work entails the installation of 114 foundations for an equivalent number of wind turbines.

Lastly, Saipem has been awarded a contract for the transportation and installation of the jacket and topside of the offshore substation at St-Brieuc offshore wind farm, located in Brittany, France, which is being developed by Ailes Marines, part of the Iberdrola group. All project management and engineering activities shall be executed by Saipem SA, Saipem’s French subsidiary established in Paris.

These offshore installation projects will be carried out by the crane vessel Saipem 7000.

With these contracts, Saipem further consolidates its position as a key player in renewables, for which a dedicated business line has been recently established within the E&C Offshore division.

Francesco Racheli, Chief Operating Officer of Saipem’s E&C Offshore Division, commented: “These new contracts confirm Saipem’s participation in the most relevant offshore windfarm developments and are the tangible results of a strategy which has led us to become a global reference player in energy transition. This significant achievement has been attained by leveraging on our capabilities, our technological flexibility and our distinctive assets”.

Source: Saipem

Saipem Project- Petropipe

Saipem, in a joint venture with Daewoo E&C and Chiyoda Corporation, awarded $4B EPC contracts by Nigeria LNG Limited

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Saipem, in joint venture with Daewoo E&C Co. Ltd and Chiyoda Corporation (SCD JV), has been awarded by Nigeria LNG Limited the contracts for the Engineering, Procurement & Construction of the Nigeria LNG Train 7 Project to be executed at Bonny Island LNG complex in Nigeria. The overall value of the contracts is above 4 billion USD and Saipem’s share amounts to around 2.7 billion USD. This award follows the signature of the Letter of Intent communicated by press release on 12th September 2019

Nigeria LNG Limited (NLNG) is a limited liability Company whose main shareholders are the Federal Government of Nigeria represented by the Nigerian National Petroleum Corporation (NNPC), Shell Gas B.V., Total Gaz Electricité France and Eni International (N.A.) N.V.S.a.r.l.

The NLNG Train 7 Project consists of the construction of one complete LNG train and one additional liquefaction unit with a total capacity of approximately eight (8) MTPA, plus other extensive associated utilities and infrastructures.

Saipem is leader in SCD JV with a 60% share.

Stefano Cao, Saipem’s CEO, commented: “This new project in Nigeria – where we have been operating for over 50 years – confirms our ability to build solid relationships, qualifying Saipem as a global company. It also proves the validity of the management methods of Covid-19 emergency thanks to the flexibility of our organizational model and the practise of our people to work remotely. The investment decision by Nigeria LNG Limited, which includes several important energy companies, demonstrates that natural gas, in whose value chain Saipem has a recognized leadership, will be pivotal to the energy transition. The award of this contract contributes to increase the portion of non-oil-related backlog and confirms the overcoming of the link between Saipem’s share value and oil price”.

Source: Saipem Press Relaese

Saipem project- Petropipe

Saipem awarded a contract by GAZ-SYSTEM S.A. for Baltic Pipe Project worth approximately €280 million

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Saipem has been awarded a contract by GAZ-SYSTEM S.A. for the transportation and installation of a natural gas pipeline between Denmark and Poland in the Baltic Sea. The contract, signed by its controlled subsidiary in U.K. Saipem Ltd, is worth approximately 280 million euro.

The Baltic Pipe Project is a strategic infrastructure project developed by a joint venture between GAZ-SYSTEM S.A. and Energinet.dk and is co-financed by the European Union to create a new inter-European gas corridor that will supply gas directly from Norway to the markets in Poland, Denmark and neighbouring countries.

Specifically, the contract comprises the construction of approx. 275 km x 36” concrete-coated pipeline between Denmark and Poland in a water depth between 4 and 57m to be carried out by Saipem S-lay vessels. Moreover, the contract includes microtunneling and civil works activities in Denmark and Poland, extensive rockdumping as well as pre and post-lay trenching and backfilling activities. Works under the contract will commence immediately.

Francesco Racheli, COO E&C Offshore Division, commented: “This new contract, assigned thanks to our solid track record in pipeline installation projects and arriving at a critical moment for the energy industry worldwide, will help ensure the continuity of European gas supply and reinforces Saipem’s presence in a such a highly strategic area. We look forward at swiftly and successfully delivering this important project”.

Source: Saipem

saipem projects

Saipem awarded Egypt’s first polybutadiene plant, in consortium with Petrojet, for the amount of approx 150 million USD

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Saipem, leading a consortium with Egypt-based Petrojet, has been awarded a contract by Egyptian Ethylene & Derivatives Co. (Ethydco) for the first polybutadiene-producing facility in Egypt, with an expected production capacity of 36,000 MT/Y.

Saipem and Petrojet have a long history of partnership in Egypt and will be jointly responsible for detailed engineering design, procurement and supply of equipment and materials, construction, pre-commissioning, commissioning up to successful start-up and performance testing.

Saipem will contribute its key competencies as a leading solutions provider in the petrochemical sector, specifically in the elastomers segment.

The scope of work of the new rubber plant comprises one production train of Low Cis Butadiene Rubber and related facilities. Polybutadiene is a synthetic rubber with a high resistance to wear and is used in the manufacture of tires, which consumes about 70 per cent of all global production.

The overall value of the contract is for approximately 150 million USD.

Maurizio Coratella, Chief Operating Officer of the Saipem Onshore E&C Division, commented: “After successful completion of the fast-track Zohr project, this award confirms Saipem as a partner of choice to support the sustainable development of Egypt”.

Source: https://bit.ly/2VDY5Ei

Saipem News Petropipe

Saipem: new offshore contracts worth over 500 million USD

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The first EPCI contract has been awarded by Saudi Aramco in the Kingdom of Saudi Arabia as part of the Long-Term Agreement in force until 2021. The scope of the offshore work encompasses the design, engineering, procurement, construction and installation of a 36” carbon steel pipeline onto the existing network around the Ju’aymah area and brownfield services at the associated offshore platform.

Furthermore, in West Africa, Saipem has been assigned a contract by Eni Angola S.p.A. related to Cabaça and Agogo Early Phase 1 developments. The scope of work includes the EPCI of risers, production flowlines, jumpers and the installation of a Subsea Production System (SPS) in water depths ranging between 400 and 600 m to be carried out by Saipem vessels FDS and Saipem 3000.

In the same region, specifically in Equatorial Guinea, Saipem has also signed a contract with Noble Energy for the offshore installation of a 70 km gas pipeline connecting the Alen Platform to Punta Europa on the coast.

Additional minor contracts awarded are related to the decommissioning of existing infrastructures located in the Thistle Field of the North Sea to be executed by the Saipem 7000 and two other offshore transportation and installation contracts in the Middle East and the Gulf of Mexico.

Francesco Racheli, Saipem E&C Offshore Division COO, commented: “These new contract awards confirm the diversified nature of our core market segments and contribute to consolidating the historic relationship with our clients who know they can constantly rely on our support in order to pursue their safety, efficiency and reliability targets. A good start to the year for the E&C Offshore division and confirmation of the strategic positioning of the company in the Middle East and West Africa”.

Saipem is a leading company in engineering, drilling and construction of major projects in the energy and infrastructure sectors. It is “One-Company” organized in five business divisions (Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling and XSIGHT, dedicated to conceptual design). Saipem is a global solution provider with distinctive skills and competences and high-tech assets, which it uses to identify solutions aimed at satisfying customer requirements. Listed on the Milan Stock Exchange, it is present in over 70 countries worldwide and has 32 thousand employees of 120 different nationalities.

Source:- www.saipem.com

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Saipem Wins Drilling Contracts Worth $1.7B USD

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Saipem has been awarded new contracts and extensions on existing contracts in Onshore Drilling and Offshore Drilling for an overall amount of approximately 1.7 billion USD.

The contracts related to the Onshore Drilling Division encompass 19 land-rigs located in the Middle East, with power between 1500 and 2000 HP, and their duration range from three up to ten years. In addition, new contracts and extensions on other existing contracts have been assigned for new works that will be executed in Bolivia, Perù, and Romania.

The contracts related to the Offshore Drilling Division concern activities to be executed in Norway and in Angola.

Stefano Cao, CEO of Saipem, commented: “The award of these contracts proves the solidity and reliability of the operational performance of our Drilling Divisions and further strengthens Saipem’s long-time presence in strategic areas of the world”.

Saipem is a leading company in engineering, drilling and construction of major projects in the energy and infrastructure sectors. It is “One-Company” organized in five business divisions (Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling and XSIGHT, dedicated to conceptual design). Saipem is a global solution provider with distinctive skills and competences and high-tech assets, which it uses to identify solutions aimed at satisfying customer requirements. 

Source: http://bit.ly/2QqhcyV

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Saipem Considering Merger Deal With Rival Subsea 7

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Saipem SpA is considering a combination with rival Subsea 7 SA in what could rank as one of the European oil services industry’s biggest-ever deals, people with knowledge of the matter said. Such a merger would create the fourth-largest oilfield service company, after Schlumberger, Halliburton and Baker Hughes.

The Italian company is pursuing a potential transaction with Norway-listed Subsea 7 as it seeks to bulk up and weather an industry downturn, according to the people, who asked not to be identified because the information is private. Subsea 7, which has a market value of about $3.3 billion, rose as much as 8.4% in Oslo trading Friday for the biggest advance in more than two years. Saipem jumped as much as 5.3%. Both companies later pared their gains. Saipem isn’t the only company from the Italian energy industry seeking growth abroad. This year, Eni and OMV AG acquired a $5.8 billion stake in Abu Dhabi National Oil Co.’s refining unit. Since 2000, Eni has racked up 10 acquisitions each worth at least $1 billion.

By combining with Saipem, Subsea 7 would also get exposure to onshore engineering and construction, where Saipem has a solid track record in the petrochemical and liquefied natural gas industries, thus reducing dependence on upstream oil and gas activities. Furthermore, Saipem has a legacy name in the Middle East and many contracts in this booming market. With this move, the merged entity could fight McDermott for the leading role in the oilfield services segment in the region.

Source: https://www.saipem.com/

Saipem Makes Deal With Daewoo E&C for Onshore LNG Projects

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Italy’s Saipem and South Korea’s Daewoo E&C Co. Ltd have signed a strategic deal for cooperation on targeted worldwide opportunities in the onshore oil and gas industry, with specific emphasis on the LNG sector.

By combining both companies’ assets and expertise in engineering, procurement and construction of onshore facilities, the two companies will focus on specific prospects with the target of creating efficiency and value to their customers.

The strategic alliance enhances and capitalizes on complementarity and synergies across the whole EPC value chain and establishes a key player capable of delivering superior solutions in global LNG construction.

As we focus on these two companies then Saipem is a leading company in engineering, drilling and construction of major projects in the energy and infrastructure sectors. It is “One-Company” organized in five business divisions (Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling and XSIGHT, dedicated to conceptual design). Whereas Daewoo E&C has been a leader in the construction industry in South Korea since its founding in 1973. Daewoo E&C is recognized as a world-renowned global construction company and aims to be a Global Top 20 by 2025.

Moreover, Daewoo E&C in a joint venture with Saipem has been nominated as a preferred bidder for the EPC of the Nigeria LNG Train 7 last September and Daewoo E&C is proud to demonstrate its meaningful entrance into the LNG engineering sector to the market.
This is a major project of both companies and their aim to achieving the corporate objectives of customers around the world.

Source: https://www.saipem.com/en/projects