Saipem and Subsea7 have reached an agreement in principle on the key terms of a possible merger of the two companies through the execution of a memorandum of understanding. The proposed combination is expected to create a global leader in energy services.

The combination of Saipem and Subsea7 would be renamed Saipem7 and would have a combined backlog of €43 billion, revenue of approximately €20 billion, and EBITDA in excess of €2 billion. It would be a global organization of more than 45,000 people, including more than 9,000 engineers and project managers. Highly complementary geographical footprints, competencies and capabilities, vessel fleets and technologies would benefit the combined company’s global client base.

Completion of the proposed merger is anticipated in the second half of 2026.

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