Saipem sets up a Joint Venture with The Triune Group in India
September 2006
Saipem of Italy, a member of the ENI Group, and Binoy Jacob, Chairman of The Triune Group of India are entering into a Joint Venture in India to provide Engineering and Technical Services to the Global Oil & Gas Industry.
Saipem is a world leader in the Oil & Gas Contracting business. They have a formidable position in the Project requirements of the Offshore & Onshore Oil Sector, Refineries, Petrochemicals, Power and Fertiliser Industries. Their capabilities are leveraged on the competences and experience of the European hubs of Saipem SA (ex Bouygues Offshore) in France and Snamprogetti in Italy. Their Know-how, Experience, Assets, and reliability are without equal in the business.
The Triune Group, through their company Triune Projects Pvt. Ltd. has been involved in Design & Engineering Services for the Oil & Gas, Refinery and Petrochemical Industries in India and Overseas. In India, they are now an important Engineering Consultant for ONGC’s Offshore and Onshore Fields and have done many engineering jobs for Indian Oil Corporation, Oil India Ltd., Bharat Petroleum, Hindustan Petroleum, Reliance and others. Overseas, they have done the engineering for major projects owned by Exxon, Total, Petro Vietnam, Petro Brazil, BHP Petroleum of Australia, etc. Last year their business mix was about 70:30 in Overseas versus Indian work. Triune has an unique position in Deepwater Projects having designed around eight Floating Production, Storage and Offloading facilities, which requires cutting edge skills of the Industry.
Saipem is currently getting the engineering for the Gimboa FPSO in Angola executed in Triune’s offices in India. They are also working on a number of other projects around the world. With the setting up of the Joint venture, the business, the capacity and capability of Triune Projects Pvt. Ltd. will belong to the Joint Venture Company.
India generates the largest number of Engineering Graduates and Technical Manpower in the world. It is an ideal location for such an operation. With Saipem’s ability to train and impart best practices, and Triune’s strong Design & Engineering skills, the resources in India can become very relevant to meet the needs of the Energy Industry world wide.
The new company Saipem-Triune is bound to gain a great deal from the penetration and reach that Saipem has in the Hydrocarbon Industry. This Joint Venture appears to have a very promising future with a solid potential for growth.
Website: Switchboard: +91-11-41212000
Contact Information:
DVS Raizada – Executive Director (Saipem Triune Engineering Pvt Ltd)
Regd. Office: B-1/H4A, Mohan Co-op Industrial Estate, Mathura Road, New Delhi – 110 044, India
