STAKEHOLDER ENGAGEMENT

Saipem is committed to work with all its stakeholders to understand their expectations and needs

 

Saipem is aware that building a dialogue with all its legitimate stakeholders is a value-creating process as it is important to learn and understand their positions. This helps the Company to take into consideration any issue identified by different stakeholders and align its activities with them.

Considering the diverse range of its stakeholders, their different needs, influences, geographical spread and level of interest, Saipem has adopted a flexible and diversified approach to stakeholders’ engagement. Hence, a dual approach has been implemented to better meet any stakeholders’ need, identifying and engaging stakeholders at both corporate and local level.

Stakeholder Engagement in 2016

Saipem’s commitment to its stakeholders

CUSTOMERS

Saipem is a leading oil and gas contractor with an established local presence and a decentralised organisation. It is able to perform complex turn-key solutions (EPIC) globally. It can develop local content, fulfil high quality and HSE requirements, effectively manage risks and ensure customer satisfaction through following best practice and standards relating to sustainability. Saipem designs, constructs and operates strategic assets aimed at anticipating customer needs and market trends.

EMPLOYEES

Saipem is a multicultural company with a uniquely decentralised organisation. Saipem offers career opportunities and focuses on the development of talent. Saipem proactively involves trade unions in its work, promoting international labour agreements, in order to reduce confrontation in a transparent and open manner. Saipem invests in its employees development and their health, safety and security.

LOCAL COMMUNITIES

Saipem is a solid and growing company. It has a long tradition of supporting local development through local content and training using its established presence and decentralised organisation. This has encouraged the development of employment and know-how for communities as well as access to local resources. Saipem has created strong relationships with local vendors and helped their development.

AUTHORITIES & DEVELOPMENT AGENCIES

Saipem is a solid and growing company with a proven track record and commitment to contributing, in its sphere of influence, to the sustainable development of economies in the countries where it operates. It aims to work in harmony and cooperation with local communities, respecting the environment and investing in local people and assets.

NON-GOVERNMENTAL ORGANISATIONS

Saipem, mainly through its customers, cooperates with NGOs with proven track record. Saipem invests in local content and in the safety, health and security of its employees. Saipem is a public listed company with a transparent and effective governance and internal control system designed to prevent corruption and unfair behaviour.

SUBCONTRACTORS &<br>VENDORS

Saipem is a solid and growing company with an established network of subcontractors and vendors. It is reliable, transparent and fair in its selection processes. Saipem adopts a strategic sourcing approach, creating dedicated local procurement units and reinforcing its relationship through framework agreements. This has contributed to Saipem having comprehensive vendor lists, with particular emphasis on local vendors. Saipem also intends to contribute to sustainability through enhancing and implementing sustainable development policies in its supply chain.

INSTITUTIONAL INVESTORS & SHAREHOLDERS

Saipem has become and will continue to be a leading global contractor in the oil and gas services industry. Saipem has a strong backlog that help it through the current turmoil and is confident that the market will return to robust growth. It’s a solid and reliable company, able to:

• Guarantee solid and profitable performance

• Perform complex projects in frontier areas, managing impacts as part of its strategy

• Manage risks effectively

• Develop innovative solutions

• Leverage its strategic assets

• Operate effectively: Saipem’s organisation model is based on centralised rules and guidelines and decentralised implementation; Saipem has a modern and transparent corporate governance system to ensure full compliance with national, international and stock exchange regulations and respect for stakeholders’ legitimate interests and business ethics.

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