Deals
Saipem, Subsea7 to Combine in New Energy Services Deal
The company will have a fleet of more than 60 construction vessels for projects from shallow water to ultra-deep water.
Source: SaipemThis article is for subscribers only.
Energy services and drilling specialists Saipem SpA and Subsea7 SA agreed to combine their businesses as consolidation in the sector picks up after years of sluggish activity.
The Italian group will take the lead in management, with Saipem Chief Executive Officer Alessandro Puliti becoming leading the combined company. Subsea7’s John Evans will be CEO of the entity that will manage the offshore business.