Saipem and Subsea7 have entered into a binding merger agreement to create Saipem7, a global leader in energy services, with expected revenues of €21 billion and significant operational synergies.

Information on the Target

Saipem is a prestigious global player known for engineering and constructing significant projects in the energy and infrastructure sectors, encompassing both offshore and onshore operations. The company is organized into various business lines including Asset Based Services, Drilling, and Sustainable Infrastructures, ensuring a comprehensive approach to energy project delivery. With substantial investments in technology and innovation, Saipem is dedicated to supporting the energy transition towards Net Zero, leveraging advanced digital tools and sustainable practices. Saipem is listed on the Milan Stock Exchange and operates in over 50 countries, employing around 30,000 staff from diverse backgrounds.

Subsea7, another market leader, specializes in delivering offshore projects and services for the energy sector, contributing significantly to the evolution of lower-carbon oil and gas, alongside facilitating the growth of renewables. The merger between Saipem and Subsea7 is set to establish a formidable entity, leveraging their combined strengths to meet increasing global energy demands.

Industry Overview

The energy services industry, particularly in the sectors of oil, gas, and renewable energy, is characterized by rapid transformation driven by technological advancement and market volatilities. In Italy, the energy sector is adapting to shifts towards sustainability, with fi