Subsea 7 thrives with profitable contracts, strong backlog, and a positive margin outlook, driven by strategic project mix ...

Subsea 7's customer base is more focused on international oil firms such as BP , opens new tab and Equinor , opens new tab. Saipem CEO Alessandro Puliti downplayed concerns about regulatory approvals.

Subsea 7 S.A. (OTCPK:SUBCY) is getting merged with Saipem SpA (OTCPK:SAPMF), a pretty similar business though with more onshore EPC activities and also some EPC for other infra projects in the mix.

Saipem and Subsea 7 have held talks about a merger in previous years, though they failed to reach an agreement, the people said. Representatives for Saipem, Subsea 7 and Eni declined to comment.

The CEO of Italy's Saipem group stated on Wednesday that the rationale behind a merger of Italy's Saipem with Norway's Subsea 7 was to combine fleets to better serve customers and reduce costs.

Saipem and rival Subsea 7 to merge in a $4.6 billion deal, shares jump. Open in App ...

MILAN, April 24 (Reuters) - Italian oil services group Saipem is looking round for growth opportunities after a bid by rival Subsea 7 for U.S. contractor McDermott sent waves through the sector.

Milan, Luxembourg, 23 February 2025 - Saipem and Subsea7 announce that today they have reached an agreement in principle on the key terms of a possible merger of the two companies1 (the "Proposed ...

Italian oil services company Saipem was in talks with rival Subsea 7 several years ago over a possible tie up but negotiations fell through, the group . Monday, October 28, 2024.

The rationale for a merger between Italy's Saipem and Norway's Subsea 7 is to combine the fleets of the two energy services companies to service customers quicker and cut costs, the CEO of the ...

Investing.com -- Saipem (BIT: SPMI), the Italian oil services firm, announced on Sunday that it will merge with Norwegian competitor Subsea 7 SA (OL: SUBC) in a deal worth approximately $4.63 ...

Italian oil services group Saipem is looking round for growth opportunities after a bid by rival Subsea 7 for U.S. contractor McDermott sent waves through the sector. "The bid is a sign of ...