Megamerger Could Create The Next Deepwater Oil Giant

Commenting on unconfirmed reports that leading offshore contractors Saipem and Subsea 7 are considering a merger, Audun Martinsen, head of oilfield service research at Rystad Energy, said: “Subsea 7 made an unsuccessful bid to merge with US rival McDermott last year. Now it could be looking at a tie-up with Italy’s Saipem, both of which have a strong standing within the so-called SURF segment – involving the construction and installation of subsea umbilicals, risers, and flowlines.” Martinsen added: “A deal would create…