Saipem

Saipem S.p.A.
Società per Azioni
Traded as BIT: SPM
FTSE MIB Component
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 €8.999 billion (2017)[1]
Increase €126 million (2017)[1]
Decrease €-328 million (2017)[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 was a subsidiary of Italian energy company Eni, which owned approximately 30% of Saipem's shares until 2016.[2] Saipem has been contracted for designing and constructing several pipelines, including Blue Stream, Greenstream, Nord Stream and South Stream.

History

Saipem was 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. At first, Saipem specialized in onshore pipelaying, plant construction and drilling. In the early 1960s it expanded to offshore operations. Offshore operations started in the Mediterranean and were expanded to the North Sea in 1972.[3]

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 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.[4]

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.[5] Saipem is also under trial in Italy over charges relating to the same case.[6]

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.[7]

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.[8]

In 2016, Saipem left the sphere of influence of Eni.[2]

Locations

Saipem is based in over 60 countries, including:

  • Europe: Italy, France, Belgium, Croatia, Germany, Great Britain, Ireland, Luxemburg, Norway, The Netherlands, Portugal, Spain, Switzerland, Turkey, Poland, Romania, Georgia
  • America: Argentina, Brazil, Canada, Ecuador, Mexico, Peru, U.S.A., Venezuela, Suriname
  • CIS: Azerbaijan, Kazakhstan, Russia
  • Africa: Algeria, Angola, Cameroon, Congo, Egypt, Gabon, Libya, Morocco, Nigeria, Sudan, Mozambique
  • Middle East: United Arab Emirates, Saudi Arabia, Iran, Oman, Qatar, Iraq, Kuwait
  • Far East and Oceania: Australia, China, India, Indonesia, Malaysia, Singapore, Thailand.

The group headed by Saipem S.p.A. includes approximately 90 companies and consortia, based all around the world.

Management

Chairman of the company is Paolo Andrea Colombo and CEO is Stefano Cao.

Main vessels

See also

References

  1. 1 2 3 4 5 6 "Saipem Annual Report 2015" (PDF).
  2. 1 2 http://www.saipem.com/en_IT/static/documents/SaipemBil16IngFinal.pdf
  3. ↑ http://www.saipem.eni.it/module.asp?sect=chi_siamo&pag=history&lang=eng%5Bpermanent+dead+link%5D
  4. ↑ "2009 Global 100 results - Corporate Knights". global100.org. 22 January 2009. Retrieved 9 April 2018.
  5. ↑ Masoni, Danilo (2010-12-20). "Saipem settles Nigeria probe for $30 mln". Reuters. Retrieved 2011-02-19.
  6. ↑ "Saipem to go on trial on Nigeria charges". Reuters. 2011-01-26. Retrieved 2011-02-19.
  7. ↑ "Total awards contracts for Egina field". Oil Online. Retrieved 25 June 2013.
  8. ↑ "Saipem wins $1.8 billion Caspian Sea pipeline contract". Petro Global News. Retrieved 18 February 2015.

Essential bibliography

  • (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
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