Jul 01 - Saipem Acquires Moss Maritime & Petromarine

Source Press Release
Company ENI S.p.A. 
Tags Other Businesses, Strategy - Other
Date July 23, 2001

Saipem, an Eni group Company, has acquired Moss Maritime AS, a Norwegian engineering company skilled in the design of floating oil production and process systems, liquified natural gas (LNG) carriers and semisubmersible drilling units.

The Moss Maritime acquisition for a price of approximately $US 55 million is subject to approval of the competent Norwegian authorities.

Saipem has also acquired Petromarine, an American engineering company based in the strategic Gulf of Mexico area, with operations in Houston and New Orleans, for a price of approximately $US 10 million (including financial debt).

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