Italy’s Saipem has agreed to merge with Norwegian rival Subsea 7 in an all-share deal to create a leading global player in offshore energy services.
https://gcaptain.com/saipem-and-subsea-7-ink-45-billion-mega-merger/
saipem
COLUMN | The demise of Diamond Offshore: Lessons for the future [Offshore Accounts]
Last week saw Noble Corporation cement its place as the great consolidator in the offshore drilling industry recovery. Seven days ago, Noble announced that it was buying Diamond Offshore Drilling in a stock plus cash transaction valuing the company at around US$1.6 billion, a deal unanimously...
New offshore fish farm concept under development in Norway
Saipem subsidiary Moss Maritime is participating in a project that seeks to develop a new open ocean fish farming concept for Norwegian aquaculture company Aqualoop. The proposed fish farm will be completed as part of the Aqualoop Big Dipper project. The farm is being developed with the capacity to...
New derrick lay vessel to commence operations with Saipem
Chinese manufacturer Shanghai Zhenhua Heavy Industries (ZPMC) has completed construction of a large derrick lay vessel capable of heavy lift, S-lay, and J-lay operations. JSD6000 will be operated under charter by Italian offshore engineering specialist Saipem. Design work on the vessel was provided...
COLUMN | Augustus Gloop in wind? Cadeler; Integrated Wind Solutions and Sumitomo; North Star newbuild [Offshore Accounts]
The order book for the wind sector just continues getting larger and larger, even as companies continue not to make much money. Wind is the Augustus Gloop segment of offshore, gorged on investment, like the character in Roald Dahl’s Charlie and the Chocolate Factory, but liable to fall into a...
COLUMN | Correcting course: Aramco and jackups; Siem Offshore and Kristian Siem; Ferguson Marine; MMA Offshore; Maersk/Svitzer [Offshore Accounts]
Harold Macmillan was supposedly once asked what the most troubling problem of his time as British Prime Minister was. “Events, my dear boy, events,” was his reply. I thought I had this week’s column nailed well in advance, but offshore is an industry especially susceptible to unexpected and hard to predict “events”. So, we must […]
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Saipem joins collaboration to develop autonomous subsea craft
Italian offshore engineering and construction specialist Saipem and compatriot shipbuilder Fincantieri have entered into a memorandum of understanding (MOU) to evaluate commercial and industrial opportunities for cooperation in the field of autonomous subsea vehicles and their integration with surface and underwater units. The agreement aims to enable the two companies to participate in major programmes […]
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COLUMN | Quick updates: Total buys a rig; Trident cans a rig; Standard sales succeed and fail; Saipem wins and loses corruption battles; Sapura hit with wind arbitration [Offshore Accounts]
Gong Xi Fa Cai, Kung Hei Fat Choi, and Chúc mừng Năm Mới! Happy Lunar New Year to all our readers, and welcome to the Year of the Dragon. At least, this is one time of year where nobody will be sneaking abandoned offshore rigs and supply vessels out of Chinese shipyards to the market […]
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COLUMN | Lowered expectations: Saudi Arabia’s oil production; Nigeria’s currency; SBM’s whistleblower; Falkland Islands’ FPSO [Offshore Accounts]
The novelist Jodi Picoult once said that, “there are two ways to be happy: improve your reality, or lower your expectations.” Changing the world for the better is hard, but there have been a lot of expectations lowered in the offshore industry this week. Unfortunately, these reduced expectations seem to have produced little joy in […]
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COLUMN | Is it them, again? Argentina and Nigeria, and Vietnam’s got a maritime video star! [Offshore Accounts]
Rarely in life do you get a second chance. But since we are almost Back to December, it is time to revisit that vintage Taylor Swift classic, where the singer describes how she messed up a relationship and begs for another chance. With that attitude, she could stand for president of Argentina and...