Andrea Coviello

Saipem and Subsea7 Get Green Lights for Merger Italy has granted conditional approval for the merger between Saipem and Norway’s Subsea7, according to MF, a financial newspaper. The government’s consent, given on September 18, is contingent on Saipem maintaining strategic operations in Italy: safeguarding Italian energy infrastructure, keeping development of its underwater drone project, and retaining other activities deemed essential to national interests. The merger still needs shareholder approvals from both companies, with votes expected to take place at upcoming meetings. If approved and finalized (slated for the second half of 2026), the combined entity—provisionally called Saipem7—will present a significantly larger footprint in offshore energy. Together they will have around €43 billion in order backlog, €21 billion in revenue and over €2 billion in core earnings. For Italy, the government stakes are notable: it controls ~12.8% of Saipem via the state lender CDP, and energy group Eni owns ~21.2%. #Energy #MergersAndAcquisitions #Offshore #OilAndGas #Italy #Norway #Saipem #Subsea7 #Infrastructure

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📢 Two offshore giants — Saipem and Subsea7 — have signed a binding agreement to merge, forming #Saipem7, a €21B energy services powerhouse with €43B in backlog and operations in 60+ countries. 💥 This move is seismic for the #EPC and offshore value chain. 🔹 60+ diversified vessels, including heavy-lift & offshore wind assets; 🔹 €300M in annual synergies; 🔹 Subsea7, a Saipem7 company, to lead in offshore wind & subsea; 👷 For EPC suppliers, engineering firms, marine services and manpower providers, this is a global opportunity to align with a redefined industry leader. Read the full article: https://lnkd.in/d4MDWV8x #EPCProjects #Saipem #Subsea7

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Saipem and Subsea7 sign binding merger deal Italian offshore oil and gas engineering, procurement and construction (EPC) contractor Saipem and UK-based offshore engineering and services player Subsea7 have entered into a binding merger agreement, in line with the terms they first announced in February. The new company, to be named Saipem7, is expected to generate €21bn ($24.7bn) in revenues and have an order backlog worth €43bn ($50.6bn), according to a joint statement. Saipem7 will merge the “highly complementary geographical footprints, competencies and capabilities, vessel fleets and technologies” of both companies. For additional details, kindly refer to: https://lnkd.in/e7_CbyJX #IndmanHiring #Saipem7 #OilAndGas #EPCMergers #EnergyTransition #OffshoreEngineering #MiddleEastEnergy

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Saipem and Subsea7 have officially agreed to merge, creating Saipem7, a global offshore energy leader with a €43 billion backlog, €21 billion in annual revenues, and a fleet of over 60 vessels. The merger will strengthen capabilities in subsea construction, offshore renewables, decommissioning, and carbon capture while delivering €300M in annual synergies within three years. Expected to close in H2 2026, Saipem7 will be headquartered in Milan and Oslo, reflecting its strong European base and global ambitions. Check out the original post 👉🏼 https://lnkd.in/dBtGJ7Du #Saipem #Subsea7 #Saipem7 #EnergyTransition #OffshoreEnergy #OilAndGas #RenewableEnergy #Subsea #OilRig #OilfieldNews

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Saipem-led Consortium Joins $20 Billion LNG FEED Battle in Indonesia. Saipem, via PT Saipem Indonesia, is leading a consortium with PT Tripatra Engineers & Constructors, PT Tripatra Engineering, and PT McDermott Indonesia in a competitive dual FEED phase for the FPSO module of Inpex’s $20 billion Abadi LNG project in Indonesia’s Masela block. The rival consortium is led by Technip Engineering Indonesia with JGC Indonesia. The dual FEED approach will see both groups deliver independent technical and commercial solutions, with the winner moving to the EPC stage. The FPSO, along with OLNG, SURF, and gas export pipeline packages, will integrate carbon capture and storage (CCS) systems. The Abadi LNG project, operated by Inpex (65%) with Pertamina (20%) and Petronas (15%), targets 10.5 mtpa natural gas output — including 9.5 mtpa LNG (over 10% of Japan’s annual LNG imports) — plus up to 35,000 bpd condensate. Saipem says the award reinforces its leadership in FLNG/FPSO and low-carbon engineering, offering a strong EPC opportunity if its proposal prevails. https://lnkd.in/evQXQ7W8

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Eni and its partners China National Petroleum Corporation, Empresa Nacional de Hidrocarbonetos EP, Korea Gas Corporation(KOGAS) and XRG have reached Final Investment Decision for the Coral North #LNG project in Mozambique. The signing ceremony took place in Maputo in the presence of President Daniel Francisco Chapo and our CEO Claudio Descalzi, marking a strategic milestone in the collaboration between Eni and the country. Coral North builds on the success of Coral South, in production since 2022. The project will bring overall LNG production to more than 7 MTPA, making Mozambique the third-largest LNG producer in Africa. Beyond economic growth, Coral North will create significant opportunities for citizens: new jobs, contracts for national enterprises, and development of a highly skilled local workforce. The project demonstrates how strategic energy developments deliver tangible benefits for communities while strengthening global #energysecurity. http://bit.ly/3KQl8c0

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#ICYMI: #FPU, #FPSO, #FLNG, and #vessels highlights round-up ⤵️ 📌 Saipem wraps up rig-to-FPU conversion for Eni offshore Congo: https://buff.ly/cGndxna 📌 Australia ups energy ante: LNG project ready for start-up, FPSO weeks away from first gas: https://buff.ly/Ya4DdSJ 📌 Drydocks World EPC contractor of choice for ‘world’s largest’ FLNG: https://buff.ly/dIhimRZ 📌 New unit ready to complete FLNG pair at Eni's Congolese project: https://buff.ly/nS03p2K 📌 Refurbished FPSO helps Vår Energi reach production milestone early: https://buff.ly/DeOSSYm 📌Karpowership's FSRU wraps up its naming ceremony at Seatrium's yard: https://buff.ly/KOVFKqK #OffshoreEnergy #OilGas #OilandGas #FossilFuels #FossilEnergy #EnergySecurity #EnergyTransition #LNGnews 📸 Scarabeo 5; Source: Saipem

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🏗 #LNGTerminals ✅ Italy’s Terminale GNL Adriatico will begin maintenance and expansion work 🏗 at its northern Adriatic Sea liquefied natural gas (LNG) terminal next month, targeting a boost in regasification output 🚀. ✅ Boasting a capacity of 9.6 billion cubic meters per year 💭, the terminal had the largest LNG storage capacity in Italy in 2024 🥇. Thanks to the capacity extension that will be carried out during next month’s downtime, this will increase to 10.4 billion cubic meters per year 📈. 📌 Source : Offshore Energy More content like this delivered to your inbox❓ Subscribe to My Newsletter for FREE 👉 https://lnkd.in/dQYv_wdN #lng #lngindustry #lngshipping #lngbunkering #gtt #mossdesign #naturalgas #shipping

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