Saipem

Energy
BIT: SPM
Italy
Saipem

[email protected]

"Saipem SPA has entered a memorandum of understanding (MOU) with Razavi Oil & Gas Development Co., Tehran, about possible cooperation in the development of Toos natural gas field 100 km northeast of Mashhad, Iran. The MOU is the third Saipem has signed with Iranian entities this year. The Italian company said Toos field has more than 60 billion cu m of gas in place and capacity to produce 4 million cu m/day. The development would involve the drilling of 5-7 wells and design and construction of production, transportation, and processing facilities. In January, Saipem signed an MOU with Parsian Oil & Gas Development Co. about possible cooperation in revamping and upgrading the 110,000-b/d Tabriz refinery and planned, 120,000-b/d Pars Shiraz condensate refinery to be linked with the 60,000-b/d Shiraz refinery. Also in January, Saipem signed an MOU with National Iranian Gas Co. on possible cooperation on two natural gas pipelines, IGAT 9 and IGAT 11, with combined lengths of 1,800 km." (April 12, 2016).

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"During the official State visit to Iran of the Italian Prime Minister, Matteo Renzi, Saipem Chief Executive Stefano Cao and Ali Yadghar, Managing Director of Razavi Oil & Gas Development Company, entered into a Memorandum of Understanding (MoU) concerning potential cooperation on a major project in the country. The MoU envisages discussions aimed at potential cooperation on the Toos Gas Field Development Project, located 100km northeast of Mashhad. The gas field, holding over 60 billion cubic meters of gas in place, has the capacity to produce some 4 million cubic meters of gas per day. The development project encompasses the drilling of 5 firm plus 2 optional wells, and the design and construction of all upstream gas production facilities and those for transportation and processing." (April 12, 2016). 

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"Saipem has entered into a Memorandum of Understanding (MoU) concerning potential cooperation on major pipeline projects in Iran. The MoU, signed with the National Iranian Gas Company (NIGC), envisages discussions aimed at Saipem’s potential cooperation in NIGC pipeline projects - including IGAT9 and IGAT11 - which cover 1800km." (January 26, 2016). 

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Saipem is a 43% owned subsidiary of Italian energy giant, Eni. (Saipem Website, "History")

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Saipem maintains a branch office in Tehran. (Company Wesbite)

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"The oil rigs currently operating in Iranian waters mostly work for Iranian state-owned companies. The rigs are owned by a variety of foreign firms, including Norway's Sinvest, London-based Foresight Group, China Oilfield Service, Japan Drilling and Saipem, a subsidiary of Italian oil giant ENI. Industry sources said they would probably be certified by either Lloyd's or Bureau Veritas. BV did not respond to inquiries." (The Washington Post, "Congress sees shipping-certification firms as tool to tighten Iran noose," 12/5/2011)