Saipem launches a new organizational model with 4 business areas

To implement its new strategy, Saipem will adopt a new organizational model divided into 4 distinct business areas, each with different dynamics, objectives and skills. The group announces it. The first is “asset-centric” Business (drilling, vessels, fabrication), based on a rigorous discipline of asset optimization. This business will generate a significant contribution to the growth in turnover and margins also thanks to the focus on key geographies and customers and the restart of the cycle. At the end of the plan, compared to 2020, a reduction in costs due to non-use of drilling equipment is expected by approximately 85% and by approximately 50% for the rest of the fleet, also thanks to the greater activities planned linked to the new favorable scenario. The second area is Business “energy carriers”, for the design of complex plants or their “low carbon” conversion with a growing focus on the best risk / return balance and with greater attention to margins. The strategy envisages the enrichment of the technological portfolio through corporate venture capital operations or selective acquisitions of skills such as the one carried out last year with “CO2 Solutions”. The third area is Business “robotics, digital and industrialized solutions” for the development of the offer of modular, repeatable, scalable systems and monitoring and maintenance services based on digital technologies. In this context, it is planned to structure Saipem’s participation in new offshore wind projects to be developed with commercial and industrial schemes different from the past, also without excluding any partnerships. In the floating wind energy sector, Saipem has recently acquired Naval Energies business. Finally, the fourth area is that of the “sustainable infrastructure” business: for growth in a sector that has become strategic in the new ecosystem of energy transition and sustainable mobility and for which the Italian Recovery Fund will hopefully function as an accelerator. The plan provides for new orders for infrastructures of around 3 billion euros over the four-year period.