Saipem
Encyclopedia
Saipem S.p.A. is an Italian oil and gas industry contractor. It is a subsidiary of Italian energy company Eni
, which owns approximately 43% of Saipem's shares. Saipem has contracted for designing and constructing several pipelines, including Blue Stream
, Greenstream, Nord Stream and South Stream
.
and were expanded to the North Sea
in 1972.
Since 1984, Saipem is listed at the Milan Stock Exchange. In 2001, Saipem started a number of acquisitions, culminating in the acquisition of Bouygues Offshore s.a.
in 2002. Responding to the recent industry trend towards large onshore EPC projects, including those related to gas monetisation, exploitation of difficult oil (heavy oil, tar sands, etc.), and in order to strengthen its position in the Middle East and its national oil company client base, in 2006 Saipem acquired —Snamprogetti.
In 2008, Saipem was included in Global 100 - Most Sustainable Corporations in the World.
In 2010, Saipem agreed to pay a penalty of US$30 million to settle a Nigerian investigation into a bribery case involving the construction of Nigeria LNG
facilities. Saipem is also under trial in Italy over charges relating to the same case.
Eni
Eni S.p.A. is an Italian multinational oil and gas company, present in 70 countries, and currently Italy's largest industrial company with a market capitalization of 87.7 billion euros , as of July 24, 2008...
, which owns approximately 43% of Saipem's shares. Saipem has contracted for designing and constructing several pipelines, including Blue Stream
Blue Stream
Blue Stream is a major trans-Black Sea gas pipeline that carries natural gas from Russia into Turkey. The pipeline has been constructed by the Blue Stream Pipeline B.V., the Netherlands based joint venture of Russian Gazprom and Italian Eni. The Blue Stream Pipeline B.V...
, Greenstream, Nord Stream and South Stream
South Stream
South Stream is a proposed gas pipeline to transport Russian natural gas to the Black Sea to Bulgaria and further to Greece, Italy and Austria. The project is seen as rival to the planned Nabucco pipeline...
.
History
Saipem was originally founded in 1957 as a service provider for the Eni group. It was founded through the merger of Snam Montaggi and a drilling contractor SAIP. In 1960s it started providing services outside the Eni group, and in 1969 it started operating autonomously. While initially Saipem specialized on onshore pipelaying, plant construction and drilling, in the early 1960s it commenced also offshore operations. Offshore operations started in the MediterraneanMediterranean Sea
The Mediterranean Sea is a sea connected to the Atlantic Ocean surrounded by the Mediterranean region and almost completely enclosed by land: on the north by Anatolia and Europe, on the south by North Africa, and on the east by the Levant...
and were expanded to the North Sea
North Sea
In the southwest, beyond the Straits of Dover, the North Sea becomes the English Channel connecting to the Atlantic Ocean. In the east, it connects to the Baltic Sea via the Skagerrak and Kattegat, narrow straits that separate Denmark from Norway and Sweden respectively...
in 1972.
Since 1984, Saipem is listed at the Milan Stock Exchange. In 2001, Saipem started a number of acquisitions, culminating in the acquisition of Bouygues Offshore s.a.
Bouygues
Bouygues S.A. is a French industrial group headquartered in the 8th arrondissement of Paris, France. Bouygues is listed on Euronext Paris exchange and is a blue chip in the CAC 40 stock market index. The company was founded in 1952 by Francis Bouygues and since 1989 has been led by his son Martin...
in 2002. Responding to the recent industry trend towards large onshore EPC projects, including those related to gas monetisation, exploitation of difficult oil (heavy oil, tar sands, etc.), and in order to strengthen its position in the Middle East and its national oil company client base, in 2006 Saipem acquired —Snamprogetti.
In 2008, Saipem was included in Global 100 - Most Sustainable Corporations in the World.
In 2010, Saipem agreed to pay a penalty of US$30 million to settle a Nigerian investigation into a bribery case involving the construction of Nigeria LNG
Nigeria LNG
Nigeria LNG Limited is a liquefied natural gas -producing company and a liquefied natural gas plant on Bonny Island, Nigeria.- History :...
facilities. Saipem is also under trial in Italy over charges relating to the same case.
Essential bibliography
- (en) Paul H. Frankel, Oil and Power Policy, New York - Washington, Praeger, 1966
- (en) Marcello Boldrini, Mattei, Rome, Colombo, 1969
- (it) Marcello Colitti, Energia e sviluppo in Italia, Bari, De Donato, 1979
- (it) Nico PerroneNico PerroneNico Perrone is an Italian essayist, historian and journalist. He firstly discovered papers on the plot for killing Enrico Mattei, the Italian state tycoon for oil in the 1950s....
, Enrico Mattei, Bologna, Il mulino, 2001 ISBN 8-81507-913-0