The European service providers for the oil and gas sector Saipem and Subsea 7 are working on a far-reaching form of cooperation. The Bloomberg news agency reports based on insiders.
An amalgamation of industry peers from the Dutch companies Boskalis, Fugro and SBM Offshore would be one of the largest oil service deals ever in Europe. The Norwegian Subsea 7 and the Italian Saipem would join forces in a market that is under pressure.
Saipem, of which the Italian oil company Eni is the largest shareholder, is currently worth around 4.8 billion dollars. Subsea 7 has a market value of approximately $ 3.2 billion.