Saipem scraps rig trio but keeps eyes on M&A opportunities

Italian player will send two jack-ups and one semisub to breaker's yards, but Covid-19 crisis offers opportunities to acquires distressed assets

Set for scrapheap: Saipem's fifth generation semi-submersible Scarabeo 7 — Set for scrapheap: Saipem's fifth generation semi-submersible Scarabeo 7Photo: SAIPEM

Iain Esau

London

Saipem United Arab Emirates Eni Mozambique Black Sea

Published 30 July 2020, 10:43Updated 30 July 2020, 10:43