Sector: Engineering and Mechanics for Oil & Gas
Saipem ranks among the global leaders in the Oil & Gas sector in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, with distinctive competences in operations in harsh environments, remote areas and deepwater.
Saipem provides a full range of services with contracts on an “EPC” and/or “EPCI” (“turn-key”) basis. They have distinctive capabilities and unique assets with highest technological content.
CDP Equity investment and objective
The investment is consistent with Cdp Equity’s objective to make medium-long term horizon investments in Italian global leaders.
In terms of indirect impact on the Italian employment, Saipem purchases about €1.8 bln from Italian suppliers and subcontracts about 1.7 mln working hours to Italian engineering companies, with a total estimated direct and indirect employment of approximately 22,500 employees.
On December 13th, 2019, the participation held in Saipem has been demerged from CDP Equity to CDP Industria (a company wholly owned by CDP).
The transaction, carried out within the Group Industrial Plan, had no economical impact on CDP Equity S.p.A.