Saipem

Bloomberg reports that Saipem is seeking to bulk up and weather an industry downturn. A potential deal could create an oilfield service giant with more than $12.4 billion in revenue.

Service firms are diversifying their portfolios, in part driven by large-scale budget cuts among operators since the industrywide downturn.

The $43-million deal with Saipem will utilize a wireless underwater intervention drone and an ROV for intervention work on the Njord field in the Norwegian North Sea. Equinor said the contract is the first ever from an operator for advanced wireless drone services.

The world’s largest oil producer has awarded $18 billion in engineering, procurement, and construction contracts as part of its Marjan and Berri expansion projects.

Anadarko Petroleum selects JV companies to provide EPC for the onshore LNG development. Saipem scores the biggest contract in its history. Work will begin upon FID, expected this month.

Saipem is taking the lead in advancing the capabilities of FlatFish, an autonomous underwater vehicle being developed by Shell for commercial application by 2020.

A hack on Italian oil services firm Saipem that crippled more than 300 of the company’s computers used a variant of the notorious Shamoon virus, Saipem said, a development that links the case to a massive attack in 2012 on Saudi Aramco.