Saipem SpA - Company Profile
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Business Description
Saipem SpA (Saipem) provides onshore and offshore drilling, and engineering, procurement, project management and construction services to oil and gas companies across the world. It operates as a contractor for the design and implementation of large-scale projects such as oil and gas pipelines, refinery and gas plants, infrastructure, chemical, petrochemical, and fertilizer plants. The company operates through three reportable business segments, Offshore Engineering & Construction, Onshore Engineering & Construction, and Offshore Drilling.
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R&D Overview
The company’s research and development (R&D) activities are focused on technological innovation and strengthening its competitive position in the Oil and Gas industry. The company is currently working on the development of the Hands-Free Lifting Beam for automatic transfer of pipeline sections from supply vessel to pipelay vessel. Saipem is continuously improving their welding technologies, including the Saipem Welding System, Submerged Arc Welding, and SPRINT internal plasma remelting technology. They are focusing on qualifying enhanced welding procedures to increase productivity for welding cladded pipelines and to handle new challenges. The company aims to upgrade their Automatic Ultrasonic Testing equipment to improve girth weld inspection quality. Additionally, it is investing in advanced automation and digitalization for their Field Joint Coating operations to improve productivity and quality. The company’s offshore drilling industry is creating a tool that uses artificial intelligence to enhance the quality of wells. The tool will assist drillers in identifying signals that will help well engineers optimize the well quality. There are multiple ongoing activities related to the Robotics & Industrialized Solutions business line. In FY2022, it spent EUR31 million on R&D activities, which decreased by 11.4% YoY.
Business Segments
- Offshore Drilling
- Offshore Engineering & Construction
- Onshore Engineering & Construction
- Onshore Drilling
Overview
It is active in shallow and deep water utilizing jack-ups and semi-submersible units. Its offshore drilling fleet operated in offshore Norway, in Egypt (both in the Mediterranean and the Red Sea), Pakistan, Mozambique, Mexico, the Middle East and Indonesia. The segment's capital expenditure stood at EUR350.0 million in FY2022.
Performance
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Overview
Includes platforms, pipelines, subsea field developments and MMO activities. It supports its clients since the early phases of projects and throughout the entire development of the field. It has manufacturing yard in Nigeria, Angola, Brazil, Italy, Saudi Arabia and Indonesia. It reported capital expenditure of EUR146.0 million in FY2022, which decreased 2.7% YoY.
Performance
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Overview
Designs and constructs hydrocarbon production facilities, hydrocarbon treatment facilities and large onshore treatment and transportation systems and facilities. It caters to the refining and petrochemical markets and industrial markets such as environment, infrastructures and marine terminals. The segments capital expenditure stood at EUR27.0 million in FY2022, which grew 35.0% YoY.
Performance
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Overview
Provides onshore drilling services for all types of drilling installations. Operates in Latin America (Peru, Bolivia, Colombia, Ecuador and Argentina), Middle East (Saudi Arabia and Kuwait), Kazakhstan, Italy, Romania and Africa (Congo and Morocco). Views optimizing cost and logistics structure to improve margins through enhanced operational efficiency as its major growth driver.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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Performance
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