Saipem is an Italian multinational engineering and drilling contractor operating primarily in the oil and gas sector. The company specializes in onshore and offshore drilling, as well as engineering, procurement, construction and installation (EPCI) of large-scale energy infrastructure. Saipem’s core activities include the design and delivery of subsea systems, pipelines, floating production facilities and LNG plants, supported by in-house fabrication yards and a modern fleet of pipelaying and drilling vessels.
Founded in 1957 as a unit of the state-owned gas and pipelines group, Saipem expanded through strategic mergers and acquisitions to become a global player in the energy services industry. Over the decades, the company has executed landmark projects such as deepwater pipelines in the Gulf of Mexico, the Blue Stream gas pipeline in the Black Sea and offshore platforms in West Africa. Saipem has also developed proprietary technologies for heavy-lift operations and advanced drilling techniques in ultra-deepwater environments.
With operations across Europe, the Middle East, Africa, the Americas and Asia-Pacific, Saipem maintains regional offices and project sites in over 60 countries. The company’s integrated approach combines engineering design with on-site construction, helping clients manage complex schedules and cost controls. Saipem is also increasingly involved in energy transition initiatives, leveraging its offshore expertise to support offshore wind, carbon capture and hydrogen projects.
Headquartered in Milan, Saipem is publicly traded on the OTC Markets under the symbol SAPMY and remains majority-owned by the Italian energy major Eni. The company is led by Chief Executive Officer Stefano Cao, whose tenure has focused on operational efficiency and sustainable growth, and overseen by a board of directors chaired by Francesco Caio. Together, they guide Saipem’s strategy to balance traditional hydrocarbon services with emerging low-carbon solutions.
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