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57-440: Saipem S.p.A. (Società Azionaria Italiana Perforazioni E Montaggi lit. Drilling and Assembly Italian Public Limited Company ) is an Italian multinational oilfield services company and one of the largest in the world. Until 2016 it was a subsidiary of Italian oil and gas supermajor Eni , which retains approximately 30% of Saipem's shares. The history of Saipem is deeply connected to Enrico Mattei 's management era of Eni during

114-405: A list of oilfield service companies – which provide services to the petroleum exploration and production industry but do not typically produce petroleum. In the list, notable subsidiary companies and divisions are listed as sub-lists of their current parent companies. Oilfield service companies may produce, maintain, and repair equipment used in oil extraction and oil transportation. In 2019,

171-647: A 1,416 km natural gas transportation system to transport North Sea natural gas to the receiving terminal at Zeebrugge in Belgium ; and a 707 km trunkline connecting Hong Kong with Yancheng 13-1 gasfield, located in the Yinggehai Basin , completed in 1994. In 1991, Saipem started operating Saipem 7000 , the world's second biggest crane vessel . In 1996, the Maghreb–Europe Gas Pipeline linked Algerian gasfields to Spain. In 1995-1999, Saipem

228-658: A ferro-alloy production plant, methanol production facilities, and expansion of petrochemical and fertilizer operations. Qatar rapidly expanded its production and exports from North Dome Field. Here are a number of milestones: Subsequent phases of the North field development provided feedstock to LNG plants at Ras Laffan Industrial City . Based on the current Qatar planned projects, production of LNG from North Dome Field may reach to 23 billion cubic feet (650 million cubic metres) to 27 billion cubic feet (760 million cubic metres) per day by 2012, any further increase in

285-458: A gas sweetening plant and sulfur processing unit were added. Phase one was online by early 1991. Gas from North Field phase one has been primarily used for local demand, and injection into the Dukhan field. Phase two was expected to involve selling North Field gas to its neighbors, possibly through a Gulf Cooperation Council (GCC) gas grid. Phase three involved exporting to Europe and Asia. Even before

342-556: A pipeline. The government of Mr Ahmadinejad, who came to power in 2005, has favoured local firms over foreign companies in the energy and other sectors. By the beginning of 2008, phases 1, 2, 3, 4 and 5 have been brought to production and by the end of 2008, phases 6, 7, 8, 9 and 10 will be on stream. Phases 12, 15, 16, 17, 18, 19, 27 and 28 are under different development stages. As of December 2010, about $ 30 billion have been invested in South Pars gas fields' development plan. It

399-510: A suburb of Milan , Italy. Saipem has offices in over 60 countries, including: The group headed by Saipem S.p.A. includes approximately 90 companies and consortia, based all around the world. The Board of Directors of the Company consists of nine Directors: • 6 are drawn from the majority list filed jointly by Eni S.p.A. and CDP Equity S.p.A.; • 3 are drawn from the minority list filed by institutional investors. The current Board of Directors

456-625: A system of offshore natural gas pipelines from Russia to Germany and the longest in the world. In 2013, Saipem was awarded a $ 3 billion contract for the development of the Egina oil field, located approximately 150 km off the coast of Nigeria in the Gulf of Guinea ; the contract included engineering, procurement, fabrication, installation and pre-commissioning of 52 km of oil production and water injection flow lines, 12 flexible jumpers, 20 km of gas export pipelines, 80 km of umbilicals, and of

513-794: Is a common field and the reservoir is highly homogenous, the ultimate recoverable reserves of each country may vary from this technical assessment which only considers the static data and does not include rate of gas migration. So, it is better to say that the ultimate recoverable reserves of each country would be a factor of cumulative gas production by each of them. The Iranian section also holds 18 billion barrels (2.9 billion cubic metres) of condensate in place of which some 9 billion barrels (1.4 billion cubic metres) are believed to be recoverable, while Qatari section believed to contains some 30 billion barrels (4.8 × 10  m ) of condensate in place and at least some 10 billion barrels (1.6 billion cubic metres) of recoverable condensate. The field

570-729: Is also under trial in Italy over charges relating to the same case. In September 2018, an Italian court found Saipem and former CEO Pietro Tali, guilty of corruption over bribes in Algeria. The former CEO was sentenced to four years and nine months in prison and 197.9 million euros were seized from the company. In January 2020, after an appeal brought before the Milan Court of Appeal, the court finally acquitted Saipem and all managers involved. Saipem's headquarters are located in San Donato Milanese ,

627-483: Is estimated that the amount will reach over $ 40 billion by 2015. The Ministry of Petroleum in Iran said in a revised statement in 2011 that Iran will invest some $ 90 billion between 2011 and 2015 ($ 60 billion will be allocated to the upstream sector and the rest to the downstream sector). In 2024, Iran scheduled a $ 70 billion plan to maintain gas pressure and keep vital petrol production. Economic studies show with

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684-414: Is forecasted to continue at least for the short term: by the end of 2011, Qatar's total cumulative production from the field will reach 41 trillion cubic feet (1.2 trillion cubic metres) of natural gas, while Iran's will stand at 21 trillion cubic feet (590 billion cubic metres) of natural gas in the same year. The ratio is maintained mainly because Qatar's annual production is almost twice

741-415: Is not only due to its shared nature with Qatar, but also with huge capability of the field to add significant liquid production to Iranian liquid export capacity. On 27 February 2009, one of the members of Iranian Parliaments criticized lack of attention on the importance of acceleration of South Pars field development and the field development delays. By the end of 2008, Qatar's cumulative production from

798-550: Is planning to develop the field in 24 to 30 phases, capable of producing about 25 billion cubic feet (710 million cubic metres) to 30 billion cubic feet (850 million cubic metres) of natural gas per day. Each standard phase is defined for daily production of 1 billion cubic feet (28 million cubic metres) of natural gas, 40,000 barrels (6,400 m ) of condensate, 1500 tonnes of liquefied petroleum gas (LPG) and 200 tonnes of sulfur , however some phases have some different production plans. Each of

855-440: Is rich in liquids and yields approximately 40 barrels (6.4 m ) of condensate per 1 million cubic feet (28 × 10 ^  m ) of gas. It has also very high level of well productivity which in average stands for 100 million cubic feet (2.8 × 10 ^  m ) per day per well, while the average natural gas well productivity in Iran is 1.5 million cubic meters per day per well. In 2005, QatarEnergy became worried

912-432: Is the world's largest gas field. In-place volumes are estimated to be around 1,800 trillion cubic feet (51 trillion cubic metres) gas in place and some 50 billion barrels (7.9 billion cubic metres) of natural gas condensate in place. With in place volumes equivalent to 360 billion barrels (57 billion cubic metres) of oil (310 billion boe of gas and 50 billion boe of natural gas condensate)

969-614: The Greenstream pipeline , connecting Libya to Sicily . In 2006, Saipem completed the sealines of the Dolphin Gas Project , connecting Qatar's North Field to the United Arab Emirates and Oman . In 2006-2008, Saipem laid down Scarabeo 8 and Scarabeo 9 ultra deepwater 6th generation semi-submersible drilling rigs , completed in 2011–12. In 2011, Saipem completed the two 1,220 km gas sealines of Nord Stream 1 ,

1026-502: The Persian Gulf War , this phase ran into trouble. To justify the investment, QatarEnergy needed two large-scale long-term supply contracts. Despite efforts from QP managing director Jaber al-Marri, contracts were not forthcoming. This switched emphasis to domestic outlets. In 1988, a firm of international consultants presented a plan to QP for developing domestic projects to utilize Qatari gas. Suggestions included an aluminum smelter,

1083-590: The CEO and General Manager. Based on the statements made by the Directors and information available to the Company, the Board of Directors ascertained that all Directors (i) meet the integrity requirements, (ii) have no causes of ineligibility and incompatibility and (iii) comply with the guidelines, last approved by the Board of Directors on February 28, 2024, concerning the maximum number of offices that Saipem Directors may hold. On

1140-578: The Company, as Chief Executive Officer and Director responsible for establishing and maintaining the Company’s Internal Control and Risk Management System; the General Counsel Simone Chini was appointed Secretary of the Board of Directors. The Board of Directors complies with the applicable legislation on gender balance: at least two fifths of Directors (4 out of 9) belong to the least represented gender. Furthermore, in line with

1197-451: The Iranian production level. In 2011, Qatar will reach an annual production capacity 8 trillion cubic feet (230 billion cubic metres) of natural gas per year, while in that year Iran's production capacity will reach 4 trillion cubic feet (110 billion cubic metres) per year. If Iran could implement all of its South Pars planned development projects on time, then it would reach

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1254-533: The K4 from the underlying K5 unit which has poor reservoir qualities. The gross pay zone in the South Pars field is approximately 450 m thick, extending from depths of approximately 2750 to 3200 m. Reservoir strata dip gently to the NE. The average thickness of the reservoir units declines from South Pars (some 450 metres (1,480 ft)) to North field (385 metres (1,263 ft)). As in other reservoir structures in neighboring areas,

1311-525: The Kangan–Dalan Formations constitute very extensive natural gas reservoirs in the field and Persian Gulf area, which composed of carbonate–evaporite series also known as the Khuff Formation. Permian–Early Triassic has been divided into Faraghan (Early Permian), Dalan (Late Permian) and Kangan (Early Triassic) Formations. According to International Energy Agency (IEA), the combined structure

1368-459: The Khuff reserves, developing the North field became imperative. In 1984 it was decided that development would occur in phases. Phase 1 involved installing production, processing, and transport facilities for 800 million cubic feet (23 million cubic metres) of natural gas per day to serve local utilities and produce 5,000 tons per day of propane , butane , gasoline , and naphtha . In 1989

1425-536: The North Dome's reserves were being developed too quickly, which could reduce reservoir pressure and possibly damage its long-term production potential. In early 2005, the government placed a moratorium on additional development projects at the North Dome pending a study of the field's reservoirs. This assessment is not expected to end until after 2009, meaning new projects are unlikely to be signed before 2010. However, this did not affect projects approved or underway before

1482-498: The airborne wind energy or energy kite systems industry via an agreement with KiteGen. In May 2024, Saipem secured three new contracts worth $ 3.7 billion from TotalEnergies EP Angola Block 20 for the Kaminho deepwater project to develop Cameia and Golfinho oil fields. In 2010, Saipem agreed to pay a penalty of US$ 30 million to settle a Nigerian investigation into a bribery case involving the construction of Nigeria LNG facilities. Saipem

1539-458: The basis of the information available and the communications received pursuant to CONSOB Resolution 11971/1999 (Issuers Regulations), the shareholders holding shares totalling to more than 3% of the share capital of Saipem S.p.A. are: Saipem S.p.A. has a share capital of 501,669,790.83 euros, divided into 1,995,557,732 common shares and 1,059 savings shares, all without the indication of the par value. The shares are indivisible and each share gives

1596-521: The capacity of 77  million metric ton per year by 2012 (see table below). The ORYX GTL plant was commissioned in early 2007, as the first operational GTL plant in Qatar. The plant nameplate capacity is 34,000 barrels per day (5,400 m /d), however, the plant has faced technical challenges and did not reach full capacity during the first year of operation. Modifications recommended by Sasol assist with overcoming this shortfall and production capacity

1653-691: The coast of Gela , in Sicily and in the early 1960s initiated the Central European Line pipeline, running from the port of Genoa to West Germany , where Eni Deutschland subsidiary was building refineries in Ingolstadt . In addition, in 1961 Saipem built a 1,140 km long oil pipeline in India and a gas pipeline in Iraq. In 1978, Saipem laid down Castoro Sei , a column stabilized semi-submersible pipelay vessel . In

1710-1011: The field by commissioning phase 2 in December 2002 to produce 1 billion cubic feet per day (28 million cubic metres per day) of wet gas. Gas is sent to shore via pipeline, and processed at Assaluyeh . Condensate production from South Pars is currently 200,000 barrels per day (32,000 m /d), and by 2010, could increase to over 500,000 barrels per day (79,000 m /d). As of December 2010, South pars gas field's production capacity stands at 75 million cubic metres (2.6 billion cubic feet) of natural gas per day. Gas production at South Pars rose by nearly 30% between March 2009 and March 2010. The field's reserves are estimated at 14 trillion cubic metres (490 trillion cubic feet) of natural gas and 18 billion barrels (2.9 billion cubic metres) of natural gas condensates. Production at South Pars gas field will rise to 175 million cubic metres (6.2 billion cubic feet) per day in 2012. NIOC

1767-479: The field is about 70%, corresponding of about 1,260 trillion cubic feet (36 × 10 ^  m ) of total recoverable gas reserves which stands for about 19% of world recoverable gas reserves. The estimates for the Iranian section are 500 trillion cubic feet (14 × 10 ^  m ) of natural gas in place and around 360 trillion cubic feet (10 × 10 ^  m ) of recoverable gas which stands for 36% of Iran's total proven gas reserves and 5.6% of

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1824-439: The field is the world's biggest conventional hydrocarbon accumulation. The field recoverable gas reserve is equivalent to some 215 billion barrels (34.2 billion cubic metres) of oil and it also holds about 16 billion barrels (2.5 billion cubic metres) of recoverable condensate corresponding of about 230 billion barrels (37 billion cubic metres) of oil equivalent recoverable hydrocarbons. The gas recovery factor of

1881-415: The field was two times higher than Iran's cumulative production from the field. Qatar produced about 20 trillion cubic feet (570 billion cubic metres) of natural gas in the period of 1997 to 2008, while Iran produced about 10 trillion cubic feet (280 billion cubic metres) of natural gas in the period of 2003 to 2008. The 2:1 ratio of Qatar's cumulative gas production from the field to Iran's

1938-465: The global oilfield services market was US $ 267.8 billion. South Pars This gas field covers an area of 9,700 square kilometres (3,700 sq mi), of which 3,700 square kilometres (1,400 sq mi) (South Pars) is in Iranian territorial waters and 6,000 square kilometres (2,300 sq mi) (North Dome) is in Qatari territorial waters. The field is 3,000 metres (9,800 ft) below

1995-495: The late 1950s, Eni's subsidiary Snam came to head two sub-holdings: Snam Montaggi, created in 1955 to build pipelines and drilling platforms, and Snam Progetti, created in 1956, specializing in tankers. In 1957 drilling company Saip, a subsidiary of Agip (Eni's fuel retailer), was merged with Snam Montaggi to create Saipem. Saipem was a pioneer in offshore drilling and pipelines construction in Europe; in 1959 it started drilling oil off

2052-658: The mooring and offloading systems. On 8 February 2015, Saipem won a $ 1.8 billion contract to build two 95 km pipelines at the Kashagan field , linking the oil fields in the Caspian Sea to the mainland in Kazakhstan . In November of the same year Saipem completed the pipelay on the 890 km gas export offshore pipeline for the Inpex -led Ichthys LNG project in Australia , what is said

2109-488: The moratorium. The 2005 moratorium by Qatar and the subsequent extension of that raised some questions about the actual proven reserves in Qatari side of the field. There was some news in 2006 that ConocoPhillips drilled unexpectedly dry holes in the North Field and this event was at least a partial catalyst for a revamped perspective on the North field structure and potential. Further supporting evidence for skepticism about

2166-465: The ongoing development phases are facing delays, NIOC authorities are conducting negotiations for development of other Iranian offshore gas fields like North Pars, Kish, Golshan, Ferdows and Lavan. Many Iranian energy analysts believe that NIOC authorities should focus on full development of South Pars field prior to conduction of any new project for development of other undeveloped Iranian offshore gas fields. The priority of South Pars full development

2223-477: The operation of each South Pars phase, one percent is added to the country's gross domestic product (GDP), while phase 12 will add more than three percent of GDP. As at 2012, some 400 Iranian companies were taking part in the development of the South Pars gas field through supplying equipment to related projects. Table Sources: NIOC, Pars Oil & Gas Company, Shana and Media While several phases of South Pars gas field are still waiting for development and

2280-665: The phases is estimated to have an average capital spend of around US$ 1.5 billion, and most will be led by foreign oil firms working in partnership with local companies. Development of a South Pars phase by the Norwegian Statoil company has become infamous after extensive report of misconduct and bribery to the Horton Investments, an Iranian consultancy firm owned by Mehdi Hashemi Rafsanjani, son of former Iranian President Hashemi Rafsanjani. Statoil committed to spending US$ 300 million to construct three production platforms and

2337-515: The production and transportation of hydrocarbons. Through the merger, the new group strengthened its position in West Africa, Middle East, Central Asia, and South East Asia and acquired significant technological competence in gas monetization and heavy oil exploitation. In 2001-2003, Saipem built the offshore section of Blue Stream , a major trans- Black Sea gas pipeline that carries natural gas from Russia into Turkey . In 2003-2004, Saipem built

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2394-511: The production capacity of 8 trillion cubic feet (230 billion cubic metres) of natural gas per year, not earlier than 2015. The most important impact of delays and lower production in Iranian side would be migration of gas to the Qatari part and a loss of condensate yield due to decreased field pressure. The North Dome, also known as North Field , was discovered in 1971, with the completion of Shell's North West Dome-1 well. With falling oil and associated gas production, and depletion of

2451-539: The production level of the Qatari side of the field is subject to the result of the ongoing study by QatarEnergy which is supposed to be released in 2012. The prospects for further growth in Qatari gas production beyond 2012 are clouded by the uncertainty created by a moratorium on new export projects, which was imposed in 2005 while the effect of existing projects on North Field reservoirs was studied. In order to monetize North Dome's vast resources of gas and liquids, Qatar has undertaken ambitious plans for establishment of

2508-482: The real scale of Qatari's reserves came from the 2008 exploration round in Qatar to target exploration of gas in the pre-Khuff formation. Even one of the blocks is exactly located beneath the North Dome Field. On 29 October 2007, Qatargas CEO Faisal Al Suwaidi stated that the 5-year moratorium on new North Field gas development projects, imposed in 2005, could be extended to 2011 or 2012. The exploration moratorium

2565-486: The recommendations for large companies established by the Code of Corporate Governance, to which Saipem complies, at least half the Directors (6 out of 9) are independent: Elisabetta Serafin, Roberto Diacetti, Patrizia Michela Giangualano, Mariano Mossa, Francesca Mariotti and Paul Simon Schapira. The Board of Directors is thus composed of a majority of independent Directors; Board members are all non-executive Directors, except for

2622-635: The reservoir in the Qatar Arch is cut by a set of NNW-SSE trending faults. Diagenesis has a major effect on reservoir quality of the field. The field is a part of the N-trending Qatar Arch structural feature that is bounded by the Zagros fold and thrust belt to the north and northeast. In the field, gas accumulation is mostly limited to the Permian–Triassic stratigraphic units. These units known as

2679-401: The right to one vote. Holders of Saipem shares can exercise the corporate and property rights attributed to them by law, in compliance with the limits set by the law. "Saipem Interim Financial Report as of June 30, 2019" (PDF) . Saipem . Retrieved 14 April 2020 . During the first half of 2019, Saipem recorded positive operational performance. Oilfield services This is

2736-554: The same year Sapiem was commissioned the construction of IGAT-2 pipeline in Iran. About 80 per cent of the line had been completed by 1985, when the works had to be halted because of the Iran-Iraq war . In 1983, Saipem completed the construction of the massive Trans-Mediterranean Pipeline , linking Algeria to Italy. In 1988, a joint venture between Saipem and Brown & Root was formed, known as European Marine Contractors, that realized two major projects: Zeepipe , completed in 1993,

2793-589: The seabed at a water depth of 65 metres (213 ft), and consists of two independent gas-bearing formations: Kangan ( Triassic ) and Upper Dalan ( Permian ). Each formation is divided into two different reservoir layers, separated by impermeable barriers. The field consists of four independent reservoir layers K1, K2, K3, and K4. The K1 and K3 units are mainly composed of dolomites and anhydrites, while K2 and K4, which constitute major gas reservoirs, comprise limestone and dolomite. A massive anhydrite (the Nar member) separates

2850-499: The world's biggest LNG and GTL industry. Qatar's LNG company called QatarEnergy LNG is located in the Ras Laffan Industrial Port on the coast of Persian Gulf. Since 1997, Qatar has been exporting LNG from the North Field. In 2006, Qatar surpassed Indonesia as the world's largest LNG exporter. Based on the massive gas resources of the field, Qatar is developing the world biggest LNG export facilities in order to reach

2907-408: The world's proven gas reserves. The estimates for the Qatari section are 900 trillion cubic feet (25 × 10 ^  m ) of recoverable gas which stands for almost 99% of Qatar's total proven gas reserves and 14% of the world's proven gas reserves. Table 1 - South Pars/North Field gas reserves Note: 1 km = 1,000,000,000 m = 1 billion m = 1 trillion liters However, since the field

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2964-507: The years of the Italian economic miracle . In the early 1950s Mattei had reorganized the Italian oil industry through a complex system of outright acquisitions and government investments, in order to guarantee Italy's self-reliance in energy. At first, Mattei focused on natural gas, the only abundant source of energy available in mainland Italy, through Snam , a newly formed gas pipelines company. In

3021-477: Was appointed for three financial years by the Shareholders’ Meeting on May 14, 2024. Its mandate will expire on the date the Shareholders’ Meeting is called to approve the financial statement as of December 31, 2026. The Shareholders' Meeting appointed Elisabetta Serafin as Chairman of the Board of Directors. The Board of Directors, on May 14, 2024, appointed Alessandro Puliti, already General Manager of

3078-573: Was lifted by Qatar in April 2017 with the announcement of a new gas project in the southern part of the field. The South Pars Field was discovered in 1990 by National Iranian Oil Company (NIOC). The Pars Oil and Gas Company, a subsidiary of NIOC, has jurisdiction over all South Pars-related projects. Field development has been delayed by various problems - technical (i.e., high levels of mercaptans and foul-smelling sulfur compounds), contractual issues and, recently, politics. Gas production started from

3135-599: Was reached/ maintained from 2009 onwards. The plant uses 330 million cubic feet per day (9.3 × 10 ^  m /d) of natural gas from the Al Khaleej Gas project. The ORYX GTL project uses Sasol's Slurry Phase Distillate (SPD) process. The project is under construction and will be the world's largest GTL plant which will have the capacity of 140,000 barrels per day (22,000 m /d) of middle distillates and significant quantities of LPG and condensate. The first of two 70,000 barrels per day (11,000 m /d) GTL trains

3192-451: Was the longest subsea pipeline in the southern hemisphere and the third longest in the world. In 2016, Eni sold a 12.5% stake in Saipem (retaining a 30% share though), that was acquired by CDP Equity , and subsequently allowed Saipem to scrap the old Eni logo and design its own, with the objective of creating a new, more autonomous company focusing on oilfield services. In 2019, Saipem entered

3249-418: Was the main contractor for the construction of Europipe I and Europipe II natural gas pipelines, connecting Norway to Germany . In the 21st century, Saipem carried on a number of acquisitions, culminating in the purchase of Bouygues Offshore for $ 1 billion in 2002. In 2006 Saipem merged with Snamprogetti , a subsidiary of Eni specializing in the design and execution of large scale offshore projects for

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