Saipem and Subsea7 merge to form Saipem7, a €21bn oil and gas giant

The merger of Saipem and Subsea7 signifies a strategic consolidation in the oil and gas sector, aiming to enhance competitiveness amid rising global demand for sustainable energy solutions. By combining resources and expertise, Saipem7 could lead in innovative offshore and onshore projects, while addressing regulatory challenges raised by industry giants like ExxonMobil and Petrobras. This move reflects a broader trend of consolidation in energy sectors, as companies seek to adapt to evolving market dynamics and environmental standards. The success of this merger will depend on effective integration and navigating regulatory landscapes. #sustainablegrowth #energytransition

Northern Oil & Gas Accelerates Growth with Strategic 2025 Acquisitions and Strong Production Northern Oil and Gas (NOG) continues to

CEO take: The merger between Italy’s Saipem and Norway’s Subsea7 should not be affected by regulatory concerns over competition, according to Alessandro Puliti. https://lnkd.in/druqCGrp

aramco has bought an additional 22.5% in the Petro Rabigh petrochemicals plant from Sumitomo Chemical to support asset upgrades. https://lnkd.in/dR-rtt4S #energynews #downstream #petrochemicals #petroleumproducts #acquisitions #energyfinance #SaudiArabia

The Government of #Italy has approved the merger of the Italian oilfield services company Saipem with its Norwegian competitor Subsea7 . The deal was approved on the condition that Saipem retains in Italy all activities considered strategic. The merger will create a new leader in the global oil and gas services market. #Italy 🇮🇹 #Norway 🇳🇴 The new entity has been named Saipem7-official . The transaction will result in a company with a combined order backlog of €43 billion, annual revenues of around €20 billion, EBITDA above €2 billion, and a workforce of more than 45,000 employees. The joint company’s headquarters will be located in Milan. The companies plan to close the deal in the second half of 2026. It is expected that A. Puliti will be appointed as CEO of Saipem7.

The Government of #Italy has approved the merger of the Italian oilfield services company Saipem with its Norwegian competitor Subsea7 . The deal was approved on the condition that Saipem retains in Italy all activities considered strategic. The merger will create a new leader in the global oil and gas services market. #Italy #Norway The new entity has been named Saipem7-official . The transaction will result in a company with a combined order backlog of €43 billion, annual revenues of around €20 billion, EBITDA above €2 billion, and a workforce of more than 45,000 employees. The joint company’s headquarters will be located in Milan. The companies plan to close the deal in the second half of 2026. It is expected that A. Puliti will be appointed as CEO of Saipem7. Credits: Subsea7 #rig #rigequipmentandoffshoresolutions #offshoredrilling #reos

Shelf Drilling Shareholders Clear Merger with ADES The shareholders of Dubai-based Shelf Drilling have approved the proposed cash merger with offshore oil contractor ADES International Holding, following the revised offer the Saudi Arabian firm. Read More: https://lnkd.in/gTHAHv7Q 🔽 Find more info in comments below 🔽 #ShelfDrilling #ADESInternational #OffshoreDrilling #OilAndGas #EnergyMergers #DubaiEnergy #ShallowWaterDrilling #JackUpRigs #GlobalEnergyMarkets #MiddleEastEnergy #EnergySynergies #OffshoreOperations #OilfieldServices #DrillingContractors #EnergyMerger ⤵️ Click Follow on our page to keep up to date with energy news ⤵️

XPLR Infrastructure has completed the $1.1 billion sale of its #Pennsylvania gas pipeline assets (Meade and Redwood Meade) to Ares affiliates, as detailed in its Sept. 22 Form 8-K. #gas #pipelines #acquisitions #divestitures https://ow.ly/mFxr50X3hP1

Cenovus increases stake in merger target ahead of $6.17 billion tie-up Canadian player appears ready to buy Calgary oil sands operator after rival bidder drops out. Cenovus Energy has purchased 8.5% of all outstanding shares in oil sands player MEG Energy ahead of a planned C$8.6 billion (US$6.17 billion) merger between the two Calgary-based operators. Cenovus said it snapped up about 21.7 million shares of MEG on Tuesday. It has accumulated about 254.4 million MEG shares in total since 8 October, when the company revealed it would increase its offer to C$29.80 per MEG share after Strathcona Resources had upped its rival bid. https://lnkd.in/dUPXxQ2j

🇺🇸 New M&A Deal: Gulf Pacific Power expands its renewable energy portfolio by acquiring cash-equity interests in five operating wind facilities from Enel Green Power, signaling a strategic move towards enhancing its presence in the Midwest wind energy market. 🔗 Read more: https://lnkd.in/dv3MkpZq #Mergers #Acquisitions #PrivateEquity #Dealert