Weekly Recap: EU probe of Saipem-Subsea7 and Saipem $260M Eni contract

Saipem S.p.A. (MIL:SPM) won a $260M drillship contract from Eni to start long‑term offshore Côte d’Ivoire work in early 2027 even as the EU opened an in‑depth probe into its proposed $4.86B merger with Subsea7 over subsea competition, decision due Nov. 26.

Previous Week Recap

• EU Probes Saipem-Subsea7 Merger: EU opened in-depth probe into Saipem S.p.A.'s proposed $4.86B merger with Subsea7, probing competition in subsea engineering, umbilicals, risers and flowlines; decision due November 26.
• Saipem Wins $260M Eni Contract: Saipem S.p.A. won a $260M offshore drilling contract from Eni for drillship Santorini to start long-term operations offshore Côte d’Ivoire in early 2027; deal includes firm term plus options.

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