Guyana’s First: Saipem Builds Complex Subsea Structure for ExxonMobil’s Uaru Field
Saipem has completed the first complex subsea structure ever built in Guyana, set for deployment at ExxonMobil’s Uaru field, marking a key milestone in the development of the country's industrial capabilities in the subsea sector.This is the Pipeline End Termination (PLET), a terminal structure installed at the end of a subsea pipeline to connect other subsea equipment or facilities.The PLET will be part of the subsea system that will transport gas from the FPSO vessel deployed at the Uaru field to be re-injected into the reservoir, at approximately 2,000 meters of water depth, thus avoiding
Saipem to Merge with Subsea7
Shareholders in Italy's Saipem approved on Thursday a planned merger with Norwegian rival Subsea7, paving the way to the creation of a leading global player in offshore energy services.All the investors attending the meeting, who accounted for 62.15% of the share capital with voting rights, backed the tie-up that was announced earlier this year.The combined group, to be renamed Saipem7, will have an order backlog of 43 billion euros, revenue of about 21 billion euros, and core earnings of more than 2 billion euros ($2.4 billion), the two companies said earlier this year.($1 = 0.
Oil Firms Urge Brazil to Review Subsea7 - Saipem Merger
Exxon Mobil, Brazilian state-run Petrobras and oil services provider TechnipFMC petitioned the country's antitrust regulator Cade to intervene in a merger between energy contractors Subsea7 and Saipem, public documents seen by Reuters show.In filings submitted on Thursday, the firms said the merger between Norway's Subsea7 and Italy's Saipem would bring a level of concentration in the subsea oil and gas services market that could drive up costs and curb competition.The firms want Cade to block the merger or impose remedies to preserve competition in Brazil, such as asset sales, a source
Saipem, Subsea7 Sign Merger Agreement to Form Energy Services Giant
Energy services firms Saipem and Subsea7 have signed a binding merger agreement to create a leading energy services company under the name of Saipem7, which will have a combined backlog of over $50 billion.The binding merger agreement follows the memorandum of understanding the companies signed in February 2025.Completion of the proposed merger is anticipated to take place in the second half of 2026.Aside from the backlog in excess of $50 million, the new company, to be named Saipem7, will have revenue of approximately $24.6 billion, EBITDA of over $2.3 billion, and will generate more than $930
Saipem Showcases Its Star1 Floating Wind Technology
Saipem has presented its Star1 semi-submersible floating wind foundation technology, which was recently selected for two floating wind projects planned in the Mediterranean Sea.Deriving its name for star-like shape, the Star1 technology consists of three arms converging at the center, where the tower supporting next-generation turbines is installed, including those exceeding 20 MW.According to Saipem, the technology minimizes the stresses and movements of the turbine and optimizes the loads on the mooring lines that anchor it to the seabed.Thanks to its geometry and mooring system, Star1 is said to
Italy’s Saipem and Norway’s Subsea7 Merger to Create Energy Services Giant
Energy services firms Saipem and Subsea7 have reached an agreement on the key terms for possible merger of the two companies under one unit to be named Saipem7, whose combined backlog would be over $45 billion.Saipem and Subsea7 shareholders will own 50% each of the share capital of the combined company, whose revenue is expected to be around $20.9 billion, and core earnings in excess of $2 billion.Saipem7 will become a global organization of over 45,000 people, including more than 9,000 engineers and project managers.Subsea7 shareholders will receive 6.688 Saipem shares for each Subsea7 share held.
Vår Energi Pre-Orders Subsea Systems to Accelerate Oil and Gas Developments
be delivered in 2026.Further, the agreement involves securing materials and reduced delivery time enabling opportunities for continuous fast-track deliveries into the Vår Energy project portfolio.Vår Energi has worked closely with its strategic subsea partners, OneSubsea, Ocean Installer and Saipem, on standardization and shortening of lead times to transform project developments. This is expected to further reduce project development time and cost. “Vår Energi has a high value early phase portfolio of more than 20 projects, with a target of developing projects from discovery
Subsea7 Secures IRM Job at Türkiye’s Sakarya Gas field
with our clients.“We look forward to continuing to work alongside TP-OTC to optimize gas production from the Sakarya field and strengthen our long-term presence in Türkiye,” said Hani El Kurd, Senior Vice President of UK and Global Inspection, Repair, and Maintenance at Subsea7.Saipem’s Castorone Vessel on Its Way to Türkiye’s Largest Gas Fiel
Saipem’s Castorone Vessel on Its Way to Türkiye’s Largest Gas Field
Saipem’s pipelay vessel Castorone has crossed the Bosphorus Strait in Türkiye, continuing its journey toward the Black Sea for a pipeline installation job as part of the second phase of the Sakarya project for Turkish Petroleum - Offshore Technology Center (TP – OTC).In the early hours of December 26, the vessel crossed the Dardanelles Strait, covering a distance of 36 nautical miles in approximately six hours.In the afternoon, it continued its journey through the Sea of Marmara. Finally, it reached and crossed the Bosphorus Strait, covering a distance of 18-nautical-mile in about
August 2025
