Strategy and Objectives

Solid perspectives, positive outcomes

The pillars of the
2025-2028 Strategic Plan

Saipem’s Strategic Plan for the four-year period 2025-2028 is based on four pillars:

Execution Excellence
Capitalising on Oil&Gas upstream upcycle
New paradigm for Onshore E&C and PMC services offering
Broaden offering in Energy Transition

These four pillars are supported by three cornerstones: a clear and disciplined capital allocation, with investment-grade credit rating target, corporate simplification and operational flexibility and continuous improvement in Health and Safety.

Excellence in execution

Means focusing on HSE, also leveraging AI-based tools and specific safety equipment to prevent accidents, and maintain a state-of-the-art fleet, also by adding new vessels through a capital-light approach, reducing risks with execution-oriented engineering and modularisation. 
 

34 billion/€
Backlog as of 31st December 2024
19 billion/€
2024 order intake

Capitalising on Oil&Gas upstream upcycle

By consolidating Saipem's position in key markets, while also seeking opportunities in emerging countries. Saipem will also monitor opportunities for deepwater offshore drilling and will evaluate strategic alternatives for shallow-water activities.

50 billion/€
expected order intake for 2025-2028
62%
quota of new orders expected in Offshore E&C
>65%
quota of new orders expected in Middle East and Africa

New paradigm for Onshore E&C and PMC services offering

In its onshore portfolio, Saipem intends to take a selective commercial approach, favouring EPC contracts with a more balanced risk profile, engineering and Project Management Consulting services and plans to expand the share of recurring revenues from O&M services.

≈ 6 billion/€
Energy Carriers business line 2024 revenue
≈ 6 billion/€
average annual order intake in Onshore E&C during 2019-2021
≈ 3.3 billion/€
expected average annual order intake in Onshore E&C during 2025-2028

Broaden offering in Energy Transition

Both onshore and offshore, with a focus on CO2 management, Green and Blue Solutions, biofuels/SAF, LNG, geothermal and offshore wind.

≈ 11%
Low / Zero Carbon projects in backlog as of 31st December 2024
≈ 15 billion/€
expected order intake for 2025-2028 in Low / Zero Carbon projects
3
proprietary technologies in the Low / Zero Carbon field

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FY 2024 Results and Strategy Update

pdf - 02-2025

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