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 exploration.

 SIP history starts in 1983, as part of IDEA Ltd, a Company floated by managers from BHEL providing project services primarily to Power projects.

 In late 80’s, IDEA Ltd established co-operation with Lummus Crest and developed capabilities in Process plants, particularly in the Oil & Gas downstream sector, and executed projects both for domestic and international clients. 

IDEA Ltd then became a member of Babcock Borsig Group, Germany in 1993 and continued to provide engineering and project services to Power and Process plants.

From 1998, a growing partnership started with Bouygues Offshore s.a., France (currently Saipem s.a.).

The Process division of IDEA was spun-off as a separate company in May 2001 to focus on Oil & Gas industry. Taken over by Saipem s.a. In March 2003, the company has changed its name to become Saipem India Projects (SIP) Limited in Jan 2004 and relocated in a world-class building. 

The development of SIP within Saipem has been illustrated by :

•  Significant growth of resources (from 170 pax in 2003 to about 600 in 2007)

• Competencies extended to Oil & Gas onshore and offshore

• Cryogenic tanks expertise developed and serving all Saipem cryogenic projects   

• Self-supported Project Center set-up capable to execute full projects from Chennai