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Stock exchange: Saipem bucking the trend after agreement for submarine projects

On a weak day for the Ftse Mib, Saipem is traveling positively after signing a collaboration agreement with the Norwegian Aker Solutions for the development of submarine projects around the world.

Stock exchange: Saipem bucking the trend after agreement for submarine projects

Saipem's share on the Stock Exchange goes against the trend, earning 1,14% in the middle of the morning, at 7,525 euros, scoring one of the best rises of the Ftse Mib, which in the same minutes travels in the red by 0,5 percent.

The purchases were triggered by the news that the plant engineering company of the Eni group has signed a collaboration agreement with the Norwegian Aker Solutions for the development of submarine projects all over the world. 

"The two companies will identify the most suitable opportunities to create value for customers by integrating Saipem's assets, resources and expertise in engineering, procurement, construction and installation of subsea infrastructures with those of Aker Solutions in subsea systems and technologies", reads the note .

According to Stefano Cao, Chief Executive Officer of Saipem, “thanks to the cooperation with Aker Solutions, customers will have access to a wealth of complementary resources and capabilities right from the early stages of the project. This joint effort will contribute to the efficient development of submarine projects."

“We will collaborate with Saipem on targeted projects, creating integrated solutions that will allow our customers to get the maximum benefit from their Upstream investments, reduce development times and lower operating costs,” said Luis Araujo, CEO of Aker Solutions.

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