# SAIPEM

Summary updated: 2026-10-04T14:39:38.91634Z
Canonical: https://finbar.com/research/companies/saipem

## Overview

Saipem is an international engineering, procurement, construction and installation company serving the energy sector. It designs, builds and operates complex infrastructure onshore and offshore, with activities spanning offshore engineering and construction, drilling, offshore wind, energy-carrier projects and sustainable infrastructure. Its stated purpose is “Engineering for a sustainable future.” [1](https://www.saipem.com/en/about-us)

The company operates in more than 50 countries and reports a workforce of over 30,000 employees; its 2025 sustainability dashboard lists 30,409 employees. Saipem reported FY2025 revenue of €15.497 billion. Established as an independent company in 1957, it has a long-standing focus on major energy infrastructure projects. [1](https://www.saipem.com/en/about-us) [2](https://sustainabilityperformance.saipem.com/social/employment/total-employees/) [3](https://www.saipem.com/en/media/press-releases/2026-02-24/saipem-preliminary-results-fourth-quarter-and-financial-year-2025) [4](https://www.saipem.com/en/about-us/saipem-history)
[1](https://www.saipem.com/en/about-us)[2](https://sustainabilityperformance.saipem.com/social/employment/total-employees/)[3](https://www.saipem.com/en/media/press-releases/2026-02-24/saipem-preliminary-results-fourth-quarter-and-financial-year-2025)[4](https://www.saipem.com/en/about-us/saipem-history)

## Products & services

Saipem’s named products include Bluenzyme™, a modular, plug-and-play post-combustion carbon-capture solution based on CO₂ Solutions technology. Designed for industrial, Oil & Gas and hard-to-abate applications, it can be used in new or existing plants; its first transportable unit is designed for a nominal capacity of 200 tonnes of CO₂ per day. [5](https://app.finbar.com/go?id=P68375662)[6](https://www.saipem.com/en/solutions-energy-transition/reduce-co2-emissions/co2-capture-storage/carbon-capture/bluenzyme)

For pipeline work, Saipem offers proprietary welding technologies—including Saipem Welding System (SWS), Submerged Arc Welding (SAW) and SPRINT—as well as field-joint-coating systems SWIPER, SHRINKA and SINCRO, and the SONUS girth-weld inspection system. Its Hydrone subsea robotics range includes the Hydrone-R resident intervention drone, rated to 3,000 metres and operable in ROV, wireless-ROV and AUV modes; Hydrone-W, a work-class system rated to 3,000 metres with a 200 kg payload; and Hydrone Lite, an ROV rated to 3,000 metres. [7](https://app.finbar.com/go?id=P45127888)[8](https://www.saipem.com/sites/default/files/2023-11/Welding_and_Pipeline_Technologies_brochure.pdf)[9](https://www.saipem.com/sites/default/files/2024-03/HydroneR_2024_2.pdf)[10](https://www.saipem.com/sites/default/files/2024-03/Hydrone_W_2024.pdf)[11](https://www.saipem.com/sites/default/files/2025-09/Hydrone%20Lite_2025.pdf)

Saipem’s services span feasibility studies and FEED through engineering, procurement, transport, installation and construction, subsea drilling, pre-commissioning, commissioning, maintenance and inspection. Its offshore capabilities also include FPSO production assets; for example, the Gimboa FPSO has production, treatment and storage capacity of 60,000 barrels per day. [12](https://app.finbar.com/go?id=P36843931)[13](https://app.finbar.com/go?id=P38484698)
[5](https://app.finbar.com/go?id=P68375662)[7](https://app.finbar.com/go?id=P45127888)[12](https://app.finbar.com/go?id=P36843931)[13](https://app.finbar.com/go?id=P38484698)[6](https://www.saipem.com/en/solutions-energy-transition/reduce-co2-emissions/co2-capture-storage/carbon-capture/bluenzyme)[8](https://www.saipem.com/sites/default/files/2023-11/Welding_and_Pipeline_Technologies_brochure.pdf)[9](https://www.saipem.com/sites/default/files/2024-03/HydroneR_2024_2.pdf)[10](https://www.saipem.com/sites/default/files/2024-03/Hydrone_W_2024.pdf)[11](https://www.saipem.com/sites/default/files/2025-09/Hydrone%20Lite_2025.pdf)

## Geographic presence

Saipem’s FY2025 core-business revenue was €15.497 billion. By reported region, revenue was €5.900 billion in the Middle East (about 38.1% of the total), €3.884 billion in Sub-Saharan Africa (25.1%), €1.676 billion in the Americas (10.8%), €1.435 billion in the rest of Europe (9.3%), €1.106 billion in the Far East and Oceania (7.1%), €728 million in Italy (4.7%), €675 million in North Africa (4.4%) and €93 million in the CIS (0.6%). Percentages are calculated from the reported regional amounts and total. [14](https://app.finbar.com/go?id=T3420363)

At year-end 2025, Saipem reported 30,409 employees: 8,442 in Europe, 8,178 in the Middle East, 5,485 in the Far East, 4,182 in Sub-Saharan Africa, 3,167 in the Americas, 734 in North Africa and 221 in the CIS. [15](https://app.finbar.com/go?id=T541356) The company’s regional groupings span countries including Brazil, Canada and Guyana in the Americas; Italy, France and Norway in Europe; Saudi Arabia and the UAE in the Middle East; Algeria and Egypt in North Africa; Australia, India, Malaysia and Singapore in the Far East; and Angola, Mozambique and Nigeria in Sub-Saharan Africa. [16](https://app.finbar.com/go?id=P109984246) Saipem describes its current presence as approximately 50 countries and over 100 executive offices; its subsidiary register includes locations such as Buenos Aires, Kuala Lumpur, Perth, Montreal, Algiers, Lagos, Rio de Janeiro, Stavanger, Georgetown, Chennai, Madrid, Amsterdam, Maputo, Singapore and Accra. [17](https://www.saipem.com/en/offices-contacts)[18](https://app.finbar.com/go?id=T10602133)
[14](https://app.finbar.com/go?id=T3420363)[15](https://app.finbar.com/go?id=T541356)[16](https://app.finbar.com/go?id=P109984246)[18](https://app.finbar.com/go?id=T10602133)[17](https://www.saipem.com/en/offices-contacts)

## Business segments

Saipem reports revenue across three segments: **Asset Based Services**, **Energy Carriers** and **Offshore Drilling**. Asset Based Services includes offshore engineering and construction, subsea and pipeline work, decommissioning, and offshore wind activities [19](https://app.finbar.com/go?id=P60987106). Energy Carriers includes onshore engineering and construction—such as LNG and regasification projects—and sustainable infrastructure, including rail and other energy-transition projects [20](https://app.finbar.com/go?id=P57848126). Offshore Drilling provides drilling services using deep-water drillships, semisubmersibles and jack-up rigs [21](https://app.finbar.com/go?id=P117200571).

In Q1 2026, the segments generated €2,014 million, €1,306 million and €208 million, respectively, out of €3,528 million total revenue—approximately **57%, 37% and 6%** [22](https://app.finbar.com/go?id=T5733926)[23](https://app.finbar.com/go?id=T1878556)[24](https://app.finbar.com/go?id=T4606271)[25](https://app.finbar.com/go?id=T2245898). For full-year 2025, they generated €9,044 million, €5,624 million and €829 million out of €15,497 million total, or approximately **58%, 36% and 5%** [26](https://app.finbar.com/go?id=T12690164)[27](https://app.finbar.com/go?id=T12417810)[28](https://app.finbar.com/go?id=T11817200)[29](https://app.finbar.com/go?id=T13809543).
[19](https://app.finbar.com/go?id=P60987106)[20](https://app.finbar.com/go?id=P57848126)[21](https://app.finbar.com/go?id=P117200571)[22](https://app.finbar.com/go?id=T5733926)[23](https://app.finbar.com/go?id=T1878556)[24](https://app.finbar.com/go?id=T4606271)[25](https://app.finbar.com/go?id=T2245898)[26](https://app.finbar.com/go?id=T12690164)[27](https://app.finbar.com/go?id=T12417810)[28](https://app.finbar.com/go?id=T11817200)[29](https://app.finbar.com/go?id=T13809543)

## Company history

Saipem was formed in 1957 through the merger of SAIP and Snam Montaggi, and began offshore installation work that year. Its early milestones included installing Europe’s first offshore production platform off Sicily in 1961 and expanding into the North Sea in 1971–72. The company was listed on the Milan and Paris stock exchanges in 1984. [4](https://www.saipem.com/en/about-us/saipem-history) [30](https://www.saipem.com/sites/default/files/2022-11/Fixed%20Offshore%20Production%20Facilities.pdf)

A major expansion came in 2006, when Saipem acquired Snamprogetti from Eni; Snamprogetti was subsequently merged into Saipem in 2008, strengthening its onshore engineering capabilities. In 2015–16, Eni reduced its stake and Saipem undertook a capital increase as part of a shift toward greater financial independence. In 2022, Alessandro Puliti was appointed CEO. In 2025 Saipem and Subsea7 signed a merger agreement, which Saipem shareholders approved that September; the 2025 report anticipated completion in the second half of 2026. [31](https://www.saipem.com/sites/default/files/2023-09/1071FinancialReporta.pdf) [32](https://www.saipem.com/sites/default/files/2022-12/980spm_fin09_rcs_L0.pdf) [33](https://www.eni.com/en-IT/media/press-release/2015/10/eni-sells-125-stake-in-saipem-to-fondo-strategico-italiano-undertakes-to-support-saipem-capital-increase-and-financial-independence-of-saipem-and-agrees-repayment-of-inter-company-loans.html) [34](https://www.saipem.com/en/media/press-releases/2016-01-21/saipem-terms-set-capital-increase-eu35-billion) [35](https://www.saipem.com/en/media/press-releases/2022-08-31/alessandro-puliti-appointed-new-saipems-ceo) [36](https://www.saipem.com/en/media/press-releases/2025-07-24/saipem-and-subsea7-announce-signing-merger-agreement) [37](https://www.saipem.com/en/media/press-releases/2025-09-25/saipem-results-extraordinary-shareholders-meeting-held-25-september) [38](https://app.finbar.com/go?id=P44045216)
[38](https://app.finbar.com/go?id=P44045216)[4](https://www.saipem.com/en/about-us/saipem-history)[30](https://www.saipem.com/sites/default/files/2022-11/Fixed%20Offshore%20Production%20Facilities.pdf)[31](https://www.saipem.com/sites/default/files/2023-09/1071FinancialReporta.pdf)[32](https://www.saipem.com/sites/default/files/2022-12/980spm_fin09_rcs_L0.pdf)[33](https://www.eni.com/en-IT/media/press-release/2015/10/eni-sells-125-stake-in-saipem-to-fondo-strategico-italiano-undertakes-to-support-saipem-capital-increase-and-financial-independence-of-saipem-and-agrees-repayment-of-inter-company-loans.html)[34](https://www.saipem.com/en/media/press-releases/2016-01-21/saipem-terms-set-capital-increase-eu35-billion)[35](https://www.saipem.com/en/media/press-releases/2022-08-31/alessandro-puliti-appointed-new-saipems-ceo)[36](https://www.saipem.com/en/media/press-releases/2025-07-24/saipem-and-subsea7-announce-signing-merger-agreement)[37](https://www.saipem.com/en/media/press-releases/2025-09-25/saipem-results-extraordinary-shareholders-meeting-held-25-september)

## Sources

1. [www.saipem.com](https://www.saipem.com/en/about-us)
2. [sustainabilityperformance.saipem.com](https://sustainabilityperformance.saipem.com/social/employment/total-employees/)
3. [www.saipem.com](https://www.saipem.com/en/media/press-releases/2026-02-24/saipem-preliminary-results-fourth-quarter-and-financial-year-2025)
4. [www.saipem.com](https://www.saipem.com/en/about-us/saipem-history)
5. [SAIPEM — Full financial report (2025 Y), p148](https://app.finbar.com/go?id=P68375662)
6. [www.saipem.com](https://www.saipem.com/en/solutions-energy-transition/reduce-co2-emissions/co2-capture-storage/carbon-capture/bluenzyme)
7. [SAIPEM — Full financial report (2025 Y), p76](https://app.finbar.com/go?id=P45127888)
8. [www.saipem.com](https://www.saipem.com/sites/default/files/2023-11/Welding_and_Pipeline_Technologies_brochure.pdf)
9. [www.saipem.com](https://www.saipem.com/sites/default/files/2024-03/HydroneR_2024_2.pdf)
10. [www.saipem.com](https://www.saipem.com/sites/default/files/2024-03/Hydrone_W_2024.pdf)
11. [www.saipem.com](https://www.saipem.com/sites/default/files/2025-09/Hydrone%20Lite_2025.pdf)
12. [SAIPEM — Full financial report (2024 Y), p148](https://app.finbar.com/go?id=P36843931)
13. [SAIPEM — Full financial report (2025 Y), p59](https://app.finbar.com/go?id=P38484698)
14. [SAIPEM — Full financial report (2025 Y), p429](https://app.finbar.com/go?id=T3420363)
15. [SAIPEM — Full financial report (2025 Y), p270](https://app.finbar.com/go?id=T541356)
16. [SAIPEM — Full financial report (2025 Y), p270](https://app.finbar.com/go?id=P109984246)
17. [www.saipem.com](https://www.saipem.com/en/offices-contacts)
18. [SAIPEM — Full financial report (2025 Y), p372](https://app.finbar.com/go?id=T10602133)
19. [SAIPEM — Full financial report (2025 Y), p144](https://app.finbar.com/go?id=P60987106)
20. [SAIPEM — Full financial report (2025 Y), p144](https://app.finbar.com/go?id=P57848126)
21. [SAIPEM — Full financial report (2025 Y), p62](https://app.finbar.com/go?id=P117200571)
22. [SAIPEM — Press release (2026 Q 1), p5](https://app.finbar.com/go?id=T5733926)
23. [SAIPEM — Press release (2026 Q 1), p6](https://app.finbar.com/go?id=T1878556)
24. [SAIPEM — Press release (2026 Q 1), p7](https://app.finbar.com/go?id=T4606271)
25. [SAIPEM — Press release (2026 Q 1), p2](https://app.finbar.com/go?id=T2245898)
26. [SAIPEM — Press release (2025 Y), p6](https://app.finbar.com/go?id=T12690164)
27. [SAIPEM — Press release (2025 Y), p7](https://app.finbar.com/go?id=T12417810)
28. [SAIPEM — Press release (2025 Y), p8](https://app.finbar.com/go?id=T11817200)
29. [SAIPEM — Press release (2025 Y), p2](https://app.finbar.com/go?id=T13809543)
30. [www.saipem.com](https://www.saipem.com/sites/default/files/2022-11/Fixed%20Offshore%20Production%20Facilities.pdf)
31. [www.saipem.com](https://www.saipem.com/sites/default/files/2023-09/1071FinancialReporta.pdf)
32. [www.saipem.com](https://www.saipem.com/sites/default/files/2022-12/980spm_fin09_rcs_L0.pdf)
33. [www.eni.com](https://www.eni.com/en-IT/media/press-release/2015/10/eni-sells-125-stake-in-saipem-to-fondo-strategico-italiano-undertakes-to-support-saipem-capital-increase-and-financial-independence-of-saipem-and-agrees-repayment-of-inter-company-loans.html)
34. [www.saipem.com](https://www.saipem.com/en/media/press-releases/2016-01-21/saipem-terms-set-capital-increase-eu35-billion)
35. [www.saipem.com](https://www.saipem.com/en/media/press-releases/2022-08-31/alessandro-puliti-appointed-new-saipems-ceo)
36. [www.saipem.com](https://www.saipem.com/en/media/press-releases/2025-07-24/saipem-and-subsea7-announce-signing-merger-agreement)
37. [www.saipem.com](https://www.saipem.com/en/media/press-releases/2025-09-25/saipem-results-extraordinary-shareholders-meeting-held-25-september)
38. [SAIPEM — Full financial report (2025 Y), p140](https://app.finbar.com/go?id=P44045216)

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