How does Saipem participate in the Mexican market?

Saipem is an Italian company born from Eni, Italy’s national hydrocarbon company, in 1957. In the 1960s, we started operating with greater independence and entered the marine business. In the 1970s, the company began working in the North Sea and continued to grow organically. In the early years of the new millennium, we made important acquisitions such as Bouygues Offshore. By then, we were already present in almost all oil-producing countries in the world. In 2006, we acquired Snamprogetti. Today, we are a large organization that operates in 62 countries, with over 50,000 employees from 129 different nationalities. The Houston office is in charge of all Saipem’s offshore activities in the Gulf of Mexico, and we also cover marine activities elsewhere in South America. We have an office in Mexico City, which is responsible for all land-based activities in the country. In this region, we have a strong presence in engineering and construction both at sea and on land.

How are Pemex tenders changing?

In the past, Pemex always divided a project into different segments, and like Saipem, we have always been present in the T&I (transportation and installation) part. Recently, Pemex has been launching EPCI contracts, which is how we like to work: a single contractor is responsible for everything. We believe that this is the way to go because with the other model, if one of the contractors does not deliver on time, it affects the entire project.

What growth opportunities do you see in Mexico?

The growth opportunities in this region are enormous. There are already approved projects in deep waters, and we have recently won the contract for the Lakash project. The major companies are waiting to see what happens before starting to define their plans with Pemex, but it is only a matter of time before the entire market evolves. In Saipem, we have been doing projects in deep waters for many years, and we have extensive knowledge of the Gulf of Mexico. Once the first major company decides to move to Mexico, there will be a chain reaction in the market. We are very well positioned and have a good track record with Pemex. We are executing projects and expect to consolidate our reputation in delivery, safety, and cost efficiency within Mexico. The main international players will bring the EPCI model to Mexico, which will be predominant in the future.