Saipem S.p.A.
SAPMD
Other OTC0.25
USD
+0.02
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Saipem S.p.A.
SAPMD
(Other OTC)
Recent
price
0.25
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Saipem S.p.A. (SAPMD) operates as a global leader in engineering, drilling, and construction services for the energy and infrastructure sectors, encompassing offshore and onshore projects. The company delivers core products and services through five business lines: Offshore Drilling, featuring a fleet of vessels for deepwater, mid-water, high-specification jack-up, and standard jack-up operations; Asset Based Services, including subsea field development, pipelaying, installation and lifting of offshore structures, marine transportation, and vessel and yard management; Energy Carriers, covering onshore engineering, procurement, construction, sustainable infrastructures, robotics, and industrialized solutions; Offshore Wind, focused on wind turbine installation, foundations, and cable laying; and Sustainable Infrastructures, supporting low-carbon energy transitions, carbon capture, and environmental projects. Saipem maintains operations across more than 50 countries, spanning Europe, the Commonwealth of Independent States, Middle East, North Africa, West Africa, Far East, Americas, and Oceania, with key fabrication yards and a fleet of over 17 owned construction vessels and 13 drilling rigs. Founded in 1957 and headquartered in Milan, Italy, the company employs approximately 30,000 personnel from over 130 nationalities and targets upstream oil and gas firms, renewable energy developers, and infrastructure operators worldwide. Recent developments include the July 2025 signing of a binding merger agreement with Subsea7 to form Saipem7, a combined entity with €21 billion in revenue, over €2 billion in EBITDA, and a €43 billion backlog, anticipated to complete in the second half of 2026 pending regulatory and shareholder approvals; this transaction promises €300 million in annual synergies from fleet optimization, procurement, and operational efficiencies. In October 2025, Saipem secures three offshore contracts worth approximately €600 million in Azerbaijan for the Shah Deniz Compression project, involving transportation, installation of a 19,000-ton platform, and 26 km of pipelines under a framework with bp; additionally, offshore drilling contracts and extensions totaling $135 million reinforce presence in West Africa, the Mediterranean, and Far East, including operations for Eni subsidiaries in Ghana, Ivory Coast, Indonesia, Egypt, and Libya. Earlier in 2025, Saipem extends its biorefining collaboration with Eni, building on a 2023 agreement to integrate engineering expertise in sustainable energy initiatives.