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Saipem SWOT & PESTLE Analysis

ID : 52969153| Jun 2021| 18 pages

COMPANY PROFILE -Saipem

Business Sector :Oil and Gas, Oilfield Production Services

Operating Geography :Italy, Europe, Global

About Saipem :

Saipem is an Italian multinational oilfield service company. The company is headquartered in San Donato Milanese, Italy. During the years of the Italian economic miracle in 1950s, Enrico Mattei reorganized the Italian oil industry through a compound system of outright acquisition and government investments for the sake of Italy's self-reliance guarantee in energy. In the beginning, Mattie concentrated on natural gas, the only ample source of energy available in mainland Italy, through Snam, a newly set-up gas pipeline company. Later in 1955, the company started to construct pipelines and drilling platforms and in 1956, it specialised in tankers and in 1957 Snam Montaggi and drilling company Saip joined together to form Saipem. By 1959, it started drilling oil off the coast of Gela and became a pioneer in offshore drilling and pipelines construction in Europe. Saipem began operating Saipem 7000, in the year 1991, which is the world's second biggest crane vessel. The company has offices in over 60 countries. The company has around 32,000 number of employees. In July, 2020 Saipem has been awarded new offshore wind contracts, for a total value of over 90 million Euros.
Saipem's Unique Selling Proposition or USP lies in it being one of the largest oilfield service company in the world. This Italian multinational company aims to implement challenging, cautious and innovative projects leveraging the ability of their people by facing and prevailing over the challenges posed by evolution of the global scenarios to create economic and social value for all the stakeholders.

Saipem Revenue :


€ 9,133 million - FY ending 31st March 2020 (y-o-y growth 6.36%)
€ 8,587 million - FY ending 31st March 2019

Competitive Analysis of Saipem

SWOT
PESTLE

The SWOT analysis for Saipem is presented below in a matrix followed by the detailed analysis report

StrengthsWeaknesses
1. Presence in both offshore and onshore projects
2. Active presence in OPEC
3. Leading offshore engineering and construction service provider
4. Business with all super majors of oil and gas industry
5. Strong finances with higher free cash flow
6. Driven by robust R&D to increase efficiency and evolve innovation
1. History of bribery to secure orders
OpportunitiesThreats
1. Opportunity of offshore exploration in newer areas
2. XSight to provide breakthrough technology to industry
3. Finding ease through diversification
1. High competition in business
2. Major oil and gas companies curtailing expenses
3. Fluctuating oil prices pulling business sentiments down
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Saipem

Strength

1. Presence in both offshore and onshore projects: Saipem is involved in both offshore and onshore projects. In both the sectors, the company offers drilling services with its high-tech machineries and engineering and construction services. Saipem has 9 vessels and 22 barges, equipped with modern machineries dedicated for offshore engineering and construction. For offshore drilling, 4 semisubmersibles, 2 drillships, 8 jack ups and 1 barge are dedicated. Saipem has a dedicated team of professionals with all necessary self-owned and third-party equipment for onshore engineering and construction. For onshore drilling, Saipem has a fleet 85 rigs. In FY19, onshore and offshore engineering and construction generated revenues worth €4.2 billion and €3.8 billion respectively. Onshore and offshore drilling generated revenue to the tune of €538 million and €555 million respectively. For fiscal 2020, backlogs for onshore business are estimated to be 2X of onshore business.

The remaining section of “Strength” is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

1. Opportunity of offshore exploration in newer areas: A massive territorial chunk is still unexplored by offshore drilling. Moreover, only 30% of the global oil produce comes from offshore drilling and it is a well-known fact that the sea surface area is much larger than that of land. With increasing activity in Africa, the eastern nations like Senegal, Mauritania and Mozambique are still unchartered in terms of oil exploration. Collaboration of Petrobas and Saipem are fetching good results in Brazil. In the Middle East, there is plump potential for drilling in Saudi Arabia, UAE and Qatar. Australia has vast reserves of LNG, yet to be tapped. Gulf of Mexico and Mediterranean Sea are growing favorites for oil explorers. Northern Europe, Taiwan and US East Coast are also fast catching up as hot destinations for offshore wind market.

The remaining section of “Opportunity” is available only in the 'Complete Report' on purchase.

Threats

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?

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Check Out Analysis of Other Relevant Companies

References used in Saipem SWOT & PESTLE Analysis Report

1. ANNUAL REPORT 2019 - https://www.saipem.com/sites/default/files/2020-04/Annual-report-2019.pdf
2. ENI Pays SEC $24.5 for FCPA Violations - https://blog.volkovlaw.com/2020/04/eni-pays-sec-24-5-for-fcpa-violations/
3. Saipem renewables bet eases oil price, virus impacts - https://renews.biz/59845/saipem-renewables-bet-eases-oil-virus-impacts/
4. ExxonMobil moves to cut spending due to ‘unprecedented environment’ - https://www.offshore-energy.biz/exxonmobil-moves-to-cut-spending-due-to-unprecedented-environment/
5. Shell, Total cut spending, share buybacks in response to oil price slump - https://www.spglobal.com/platts/en/market-insights/latest-news/oil/032320-shell-cuts-spending-and-buybacks-in-response-to-oil-price-slump
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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SWOT & PESTLE.com (2021). Saipem SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/saipem/ [Accessed 27 Oct, 2021].

In-text: (SWOT & PESTLE.com, 2021)

Copyrights and Disclaimer

Saipem SWOT and PESTLE analysis has been conducted by Tej Narayan Shaw from IISWBM, Kolkata and reviewed by senior analysts from Barakaat Consulting.

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