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Italy Oil Services Company Saipem to Merge with Norway Oil Services Company Subsea7 in $4.63 Billion Deal to Form Saipem7, Both Companies Will Own 50% Each in Saipem7
25th February 2025 | Hong Kong
Italy oil services company Saipem is merging with Norway oil services company Subsea7 in $4.63 billion deal to form Saipem7. Both companies will own 50% each in Saipem7. Saipem is a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, both offshore and onshore. Saipem is “One Company” organized into business lines: Asset Based Services, Drilling, Energy Carriers, Offshore Wind, Sustainable Infrastructures, Robotics & Industrialized Solutions. The company has 6 fabrication yards and an offshore fleet of 21 construction vessels (of which 17 owned and 4 owned by third parties and managed by Saipem) and 15 drilling rigs, of which 9 owned. Always oriented towards technological innovation, the company’s purpose is “Engineering for a sustainable future”. As such Saipem is committed to supporting its clients on the energy transition pathway towards Net Zero, with increasingly digital means, technologies and processes geared for environmental sustainability. Listed on the Milan Stock Exchange, it is present in more than 50 countries around the world and employs about 30,000 people of over 120 nationalities. Subsea7 makes offshore energy transition possible through the continuous evolution of lower-carbon oil and gas and by enabling the growth of renewables and emerging energy.
“ Italy Oil Services Company Saipem to Merge with Norway Oil Services Company Subsea7 in $4.63 Billion Deal to Form Saipem7, Both Companies Will Own 50% Each in Saipem7 “
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Italy Oil Services Company Saipem to Merge with Norway Oil Services Company Subsea7 in $4.63 Billion Deal to Form Saipem7, Both Companies Will Own 50% Each in Saipem7
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