Saipem

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Saipem (BIT: SPM) is an Italian oil and gas industry contractor. It is a subsidiary of Italian energy company Eni, which owns approximately 43% of Saipem's shares. Saipem has contracted for designing and constructing several pipelines, including during Blue Stream, Greenstream, Nord Stream and South Stream.

[edit] History

Saipem was originally founded in 1957 as a service provider for the Eni group. It was founded through the merger of Snam Montaggi and a drilling contractor SAIP. In 1960s it started providing services outside the Eni group, and in 1969 it started operating autonomously. While initially Saipem specialized on onshore pipelaying, plant construction and drilling, in the early 1960s it commenced also offshore operations. Offshore operations started in the Mediterranean and were expanded to the North Sea in 1972.

Since 1984, Saipem is listed at the Milan Stock Exchange. In 2001, Saipem started a number of acquisitions, culminating in the acquisition of Bouygues Offshore s.a. in 2002. In 2006 Saipem acquired other Italian major engineering and construction contractor of the oil and gas industry—Snamprogetti.

[edit] Management

Top Management of Saipem Group include: - Pietro Franco Tali, Chairman and CEO - Hugh O’Donnell, Managing Director and COO - Alessandro Bernini, CFO and Company Affairs - Giulio Bozzini, Strategy and Development - Sabatino De Sanctis, QHSE - Pietro Galizzi, General Counsel - Rosario Giannini, HR, Organisation and ICT - Patrice Huet, Risk and Opportunity Knowledge Management - Alessandro Riva, Internal Audit - Stefano Bianchi, Integrated Projects - Giuseppe Caselli, Drilling - Paolo Daleffe, Procurement - Yves Inbona, Offshore Business Unit - Jaques Leost, Chairman and CEO Saipem SA - Marco Toninelli, Assets - Pietro Varone, Onshore Business Unit. - Marian Safwat, HSE