Press Room....

Saipem acquires 50% of the Indian engineering company Triune Projects

San Donato Milanese, 26 September 2006 – Saipem has acquired 50% of the Indian engineering company Triune Projects, for USD 10 million.

Triune Projects, based in New Delhi, provides specialized engineering services for the oil & gas industry and employs 320 people.

The acquisition of the 50% stake in Triune Projects will further strengthen Saipem’s engineering capabilities in India, where it already owns 100% of SIPS (Saipem India Projects Services Ltd), an engineering company based in Chennai which employs 500 engineers.

Saipem (43% owned by Eni) is a leader in the provision of engineering, procurement, project management and construction services for the oil & gas Industry, with unique capabilities in designing and executing large scale offshore and onshore projects. Saipem has a strong bias for operating in deepwater and remote areas. It has significant technological competence in gas monetization and heavy oil exploitation.

 

Website: www.saipem.eni.it
Switchboard: +39-025201
Shareholder Information:
Saipem S.p.A., Via Martiri di Cefalonia, 67 - 20097 San Donato Milanese (MI), Italy

Relations with institutional investors and financial analysts:

Tel.: +39-02520.34653 Fax: +39-02520.54295

E-mail: investor.relations@saipem.eni.it