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Subsea7 and Saipem Sign Merger to Form Saipem7, An Energy Sector Giant. The New Company Will Be Based in Milan and Focused on Integrated Offshore and Onshore Solutions.
Subsea7 and Saipem officially announced last Wednesday (24) a binding merger agreement, consolidating a union that promises to transform the global energy sector. The new company, named Saipem7, will arise from the incorporation of Subsea7 by Saipem in a cross-border operation within the European Union. The headquarters will be in Milan, Italy, and the merger process is expected to be completed in the second half of 2026.
A New Energy Giant: What to Expect from Saipem7
The merger between Subsea7 and Saipem aims to combine expertise to tackle the growing challenges of large global energy projects, enhancing the technical and operational capabilities of the companies.
The expectation is that the new company will become one of the global leaders in engineering, construction, and offshore and onshore services.
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Saipem7 will emerge with a comprehensive portfolio of solutions for the energy sector, including drilling, engineering, construction, maintenance, and decommissioning activities.
The union will allow the company to optimize schedules and provide integrated solutions in strategic areas such as oil, gas, renewable energy, and carbon capture.
Additionally, the new structure will feature over 60 specialized vessels in maritime construction, operating from shallow waters to ultra-deep waters.
Among the technologies employed are J-lay, S-lay, and reel-lay systems for rigid pipe installation, as well as the installation of wind turbines and offshore foundations.
Strategic Leadership and Organizational Structure
Saipem7 will be led by names already recognized in the sector. Kristian Siem will take over as Chairman of the Board, while Alessandro Puliti will serve as CEO.
Puliti will also lead the Offshore Engineering and Construction unit, whose operational management will be the responsibility of John Evans.
This unit will be autonomous within the Saipem7 structure and will retain the name Subsea7, under the brand “Subsea7, a Saipem7 Company.”
It will bring together all operations of the former Subsea7 and a portion of Saipem’s assets, especially those related to offshore wind energy.
The estimate is that this area will represent around 84% of the new company’s EBITDA for the 12 months ending December 2024.
Four Areas of Operation for Greater Global Efficiency
The Saipem7 structure will be organized into four strategic divisions:
- Offshore Engineering and Construction
- Onshore Engineering and Construction
- Sustainable Infrastructures
- Offshore Drilling
With this organization, the company aims to enhance its operational efficiency and deliver added value to global clients, reinforcing its role as a provider of complete and sustainable solutions.
With approximately 44 thousand employees, including over 9 thousand engineers and project managers, Saipem7 is born with a solid foundation to accelerate complex energy projects.
The integration of talents and technical resources reinforces the company’s commitment to innovation, safety, and sustainability.
The merger between Subsea7 and Saipem represents more than the union of two established brands: it is the creation of a powerhouse capable of leading the global energy transition with smart solutions and operational scale.
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