Subsea Vessel Market Outlook 'Robust' for 2026
and still growing EPC orderbook volumes we firmly believe that the market will revert to more long-term fixtures in 2026.© Fearnley Offshore SupplyShort-Term Softening Amid Dayrate Volatility and Supply GrowthAnother significant development in the industry is the proposed merger between Subsea 7 and Saipem to form Saipem7, a move designed to achieve substantial cost synergies to the tune of $350 million per year, and increase market dominance, though it will also present integration challenges. Expected to be finalized in the second half of 2026, the combined company will see its combined revenue,
Saipem Gets DNV Certification for Offshore Asset Lifecycle Management
Saipem has obtained ISO 55001:2024 certification, the international standard for asset lifecycle management, marking a significant milestone in its journey towards operational excellence and offshore sustainability.The certification, issued by DNV, confirms Saipem’s Asset Management system compliance with the most advanced requirements, covering all operational phases - design, procurement, installation, commissioning, maintenance and decommissioning, ensuring a robust and effective “Asset Integrity” framework.The certification applies to Saipem’s entire offshore asset portfolio
Fincantieri Launches Underwater Drone
the boundaries of innovation ever deeper," Folgiero said.In the subsea sector, Fincantieri has been working with several Italian companies, including state-controlled aerospace and defence group Leonardo LDOF.MI.Last year the shipbuilder signed a commercial deal with energy contractor Saipem SPMI.MI - which develops specific technologies for subsea drones.Earlier on Thursday, Saipem's CEO said that the group would continue developing its technology and would continue pursuing commercial opportunities with Fincantieri, dispelling media reports that it was considering
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.
December 2025
