Saipem is one of the world's largest contractors for designing, constructing, installation of subsea pipelinesSaipem S.p.A. (BIT: SPM) is an Italian oil and gas industry contractor. The Group is now one of the largest, powerful, well balanced turnkey contractor in the oil and gas industry. The organisation, while providing many different kinds of services - including specialised services and maintenance, modification and operations - has been rationalised into three global business units: Onshore, Offshore, Drilling. It enjoys a superior competitive position for the provision of EPIC/EPC services to the oil industry both onshore and offshore; with a particular focus on the toughest and most technologically challenging projects - activities in remote areas, deepwater, gas, difficult oil. Its drilling services are distinctive, operating in many of the oil & gas industry's 'hotspots', frequently in synergy with the Group's onshore and offshore activities. The new Group is a truly global contractor, with strong local presence in strategic and emerging areas such as West Africa and FSU, Central Asia, Middle East, North Africa and South East It is a subsidiary of Italian energy company Eni, which owns approximately 43% of Saipem's shares. Saipem has contracted for designing and constructing pipelines, including Blue Stream, Greenstream