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Saipem (SAPMF) Signs MoU for Subsea Technology Integration
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Saipem S.p.A. (SAPMF - Free Report) has signed a Memorandum of Understanding (MoU) with Fincantieri S.p.A to assess potential collaboration opportunities in the field of autonomous subsea vehicles and their integration with surface and underwater units.
The agreement, signed at Palazzo Marina in Rome, is aimed at enabling both companies to participate in major programs in the domain of surveillance and control of critical underwater infrastructure and rescue operations, in Italian and international markets. To engage in these programs, the collaboration will leverage the specific complementary technologies offered by both companies.
The partnership involves the integration of Fincantieri’s surface vessels and submarines with Saipem’s drone development program “Hydrone”. The resident Hydrone Autonomous Underwater Vehicle was developed by Sonsub, Saipem’s subsea technologies subsidiary.
Saipem has highlighted that it is the first company to have qualified and commercialized resident autonomous subsea drones, globally. The autonomous subsea drones were developed by Saipem for intervention and inspection activities up to a depth of 3,000 meters.
Fincantieri has positioned itself at the center of development programs in the Underwater sector. The company offers extremely promising business opportunities due to its ability to effectively integrate the defense and civil industries. It has constructed a total of 180 submarines since 1929, out of which 105 were built at the Muggiano shipyard.
Saipem is a leading player in the oilfield services industry, based in Italy. It specializes in the engineering and construction of major projects, both offshore and onshore.
Fincantieri is a shipbuilding company based in Italy. It is one of the largest shipbuilding groups globally.
Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
Harbour Energy is a leading independent oil and gas company, primarily involved in upstream operations. The acquisition of the Wintershall Dea asset portfolio is expected to increase HBRIY's estimated production. The company has also done well in reducing its debt in the past year.
Helmerich & Payne is primarily involved in contract drilling of oil and natural gas, with operations in all major U.S. onshore basins as well as in South America, Australia and the Middle East. In the past months, the company has secured eight new rig contracts with Saudi Aramco, expanding its presence in the Middle East. With plans to capitalize on unconventional drilling growth opportunities, the company’s outlook seems positive.
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Saipem (SAPMF) Signs MoU for Subsea Technology Integration
Saipem S.p.A. (SAPMF - Free Report) has signed a Memorandum of Understanding (MoU) with Fincantieri S.p.A to assess potential collaboration opportunities in the field of autonomous subsea vehicles and their integration with surface and underwater units.
The agreement, signed at Palazzo Marina in Rome, is aimed at enabling both companies to participate in major programs in the domain of surveillance and control of critical underwater infrastructure and rescue operations, in Italian and international markets. To engage in these programs, the collaboration will leverage the specific complementary technologies offered by both companies.
The partnership involves the integration of Fincantieri’s surface vessels and submarines with Saipem’s drone development program “Hydrone”. The resident Hydrone Autonomous Underwater Vehicle was developed by Sonsub, Saipem’s subsea technologies subsidiary.
Saipem has highlighted that it is the first company to have qualified and commercialized resident autonomous subsea drones, globally. The autonomous subsea drones were developed by Saipem for intervention and inspection activities up to a depth of 3,000 meters.
Fincantieri has positioned itself at the center of development programs in the Underwater sector. The company offers extremely promising business opportunities due to its ability to effectively integrate the defense and civil industries. It has constructed a total of 180 submarines since 1929, out of which 105 were built at the Muggiano shipyard.
Saipem is a leading player in the oilfield services industry, based in Italy. It specializes in the engineering and construction of major projects, both offshore and onshore.
Fincantieri is a shipbuilding company based in Italy. It is one of the largest shipbuilding groups globally.
Zacks Rank and Other Key Picks
Currently, SAPMF carries a Zacks Rank #2 (Buy).
Other top-ranked stocks in the energy sector are Archrock, Inc. (AROC - Free Report) , Harbour Energy (HBRIY - Free Report) and Helmerich & Payne Inc. (HP - Free Report) . Archrock presently sports a Zacks Rank #1 (Strong Buy), while Harbour Energy and Helmerich & Payne hold a Zacks Rank of 2. You can see the complete list of today’s Zacks Rank #1 stocks here.
Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. It provides natural gas contract compression services and generates stable fee-based revenues.
Harbour Energy is a leading independent oil and gas company, primarily involved in upstream operations. The acquisition of the Wintershall Dea asset portfolio is expected to increase HBRIY's estimated production. The company has also done well in reducing its debt in the past year.
Helmerich & Payne is primarily involved in contract drilling of oil and natural gas, with operations in all major U.S. onshore basins as well as in South America, Australia and the Middle East. In the past months, the company has secured eight new rig contracts with Saudi Aramco, expanding its presence in the Middle East. With plans to capitalize on unconventional drilling growth opportunities, the company’s outlook seems positive.