Italian player Saipem has signed a provisional deal with Norwegian offshore service company Havfram to explore working together in the offshore wind business, with the possibility that an agreement could be wrapped up within four months.
The non-binding agreement will see Saipem and Stavanger-headquartered Havram — which is majority-owned by private equity plater HitecVision — evaluate a potential collaboration in the development and construction of offshore windfarms.
At the heart of the proposal is to integrate a range of construction and operational services, based on both sides' competences and expertise.
This will involve building on Havfram’s offshore installation experience and Saipem’s turnkey construction capabilities, competencies and assets.
This initiative, said Saipem, is consistent with its 2022-25 strategic plan that aims to strengthen its offshore wind value proposition by identifying “new and more profitable ways of execution, organisational and management models”, while also developing “the latest generation installation assets such as jack-ups”.
For Stavanger-headquartered Havram, the agreement —- which also involves HVAS Invest Kappa, a holding company controlled by HitecVision — would help it accelerate growth in the offshore wind turnkey and service offering.
Saipem said the parties will set up a joint team to “study and develop the technical, organisational, financial and valuation aspects of the possible collaboration,” with the ultimate aim of finalising a deal by the end of September this year.