Saipem

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Saipem S.p.A.
Società per azioni
Traded as BITSPM
Industry Oilfield services
Founded 1957
Headquarters San Donato Milanese, Italy
Key people
Stefano Cao (CEO)
Marco Mangiagalli (Chairman)
Services Engineering and construction for offshore and onshore projects; drilling rig, drillship and FPSO operation
Revenue Decrease €11.520 billion (2015)[1]
Decrease €-452 million (2015)[1]
Profit Decrease €-789 million (2015)[1]
Total assets Decrease €16.319 billion (2015)[1]
Total equity Decrease €3.519 billion (2015)[1]
Number of employees
46,346 (2015)[1]
Parent Eni, FSI
Website www.saipem.com
Saipem Scarabeo 7 semi-submersible drilling rig docked in Cape Town

Saipem S.p.A. (Società Anonima Italiana Perforazioni E Montaggi) is an Italian oil and gas industry contractor. It is a subsidiary of Italian energy company Eni, which owns approximately 30% of Saipem's shares. Saipem has been contracted for designing and constructing several pipelines, including Blue Stream, Greenstream, Nord Stream and South Stream.

History[edit]

Saipem was originally founded in 1957 as a service provider for the Eni group, through the merger of Snam Montaggi and a drilling contractor SAIP. In 1960s it started providing services outside the Eni group, and in 1969 it started operating autonomously. While initially Saipem specialized on onshore pipelaying, plant construction and drilling, in the early 1960s it commenced also offshore operations. Offshore operations started in the Mediterranean and were expanded to the North Sea in 1972.[2]

Since 1984, Saipem is listed at the Milan Stock Exchange. In 2001, Saipem started a number of acquisitions, culminating in the acquisition of Bouygues Offshore s.a. in 2002. Responding to the recent industry trend towards large onshore EPC and EPCI projects, including those related to gas monetisation, exploitation of difficult oil (heavy oil, oil sands, etc.), and in order to strengthen its position in the Middle East and its national oil company client base, in 2006 Saipem has acquired and in 2008 has incorporated Snamprogetti.

Saipem is one of the largest turnkey contractors in the oil and gas industry, owning over 50 vessels that deal with all aspects of offshore construction and services activities including drilling and pipe laying. The company has a number of high-profile contracts and works with most major NOCs including Saudi Aramco, ADNOC, and Sonatrach.

In 2008, Saipem was included in Global 100 - Most Sustainable Corporations in the World.[3]

Saipem operates a unit in Nigeria. In 2010, Saipem agreed to pay a penalty of US$30 million to settle a Nigerian investigation into a bribery case involving the construction of Nigeria LNG facilities.[4] Saipem is also under trial in Italy over charges relating to the same case.[5]

In 2013, Saipem was awarded a $3 billion contract for the subsea development of the Egina field offshore Nigeria, which encompasses engineering, procurement, fabrication, installation and pre-commissioning of 52 km of oil production and water injection flow lines, 12 flexible jumpers, 20 km of gas export pipelines, 80 km of umbilicals, and of the mooring and offloading systems. [6]

On 8 February 2015, Saipem won a $1.8 billion contract to engineer and construct two pipelines at the Kashagan field project in the Caspian Sea.[7]

Management[edit]

Chairman of the company is Francesco Carbonetti and CEO is Stefano Cao.

Main Vessels[edit]

See also[edit]

References[edit]

Essential bibliography[edit]

  • (en) Paul H. Frankel, Oil and Power Policy, New York - Washington, Praeger, 1966
  • (en) Marcello Boldrini, Mattei, Rome, Colombo, 1969
  • (it) Marcello Colitti, Energia e sviluppo in Italia, Bari, De Donato, 1979
  • (it) Nico Perrone, Enrico Mattei, Bologna, Il mulino, 2001 ISBN 88-15-07913-0

External links[edit]