New CEO takes helm at Italy’s Saipem

Francesco Caio has started his role as chief executive officer and general manager of Italian energy and LNG contractor Saipem.

Caio suceeds Stefano Cao who served as CEO of Saipem for six years.

The new CEO previously worked as chairman of Saipem’s board from 2018.

Saipem’s board appointed Caio to the new role during the company’s annual general shareholders meeting held on April 30 in San Donato Milanese.

Caio has “considerable experience” in Italy and abroad as chief executive officer of multinational companies, both public and private, operating in the industrial sector, in advanced technology, finance and telecommunications, the contractor said.

Saipem has this year won more than $3 billion in contracts from Qatargas for work related to the giant Qatari LNG expansion project.

The firm also recently said it was not in a position to evaluate impacts on its financials for the year due to the uncertainty related to Total’s $20 billion Mozambique LNG project.

Total has declared force majeure on the project where the main EPC contractor is CCS JV, a venture between Saipem, McDermott, and Chiyoda.

Most Popular

Samsung Heavy wins contract for Eni’s Coral Norte FLNG

South Korean shipbuilder Samsung Heavy has secured a preliminary contract for Eni's second FLNG project in Mozambique, Coral Norte (Coral North), according to shipbuilding sources.

QatarEnergy LNG carrier wraps up trials in China

A 174,000-cubic-meter liquefied natural gas (LNG) carrier, built as part of QatarEnergy's massive shipbuilding program, has completed its trials in China, according to Hudong-Zhonghua.

LNG Canada sends second cargo

Shell-led LNG Canada has shipped the second cargo of liquefied natural gas from its Kitimat facility on the west coast of Canada. LNG Canada shareholder Petronas will deliver this shipment to Japan.

More News Like This

Saipem to merge with Subsea7

According to a joint statement, Saipem and Subsea7 shareholders will own 50 percent each of the share capital of...

Saipem consortium clinches $1.2 billion Tangguh UCC contract

The EPCI contract is part of the BP Berau-led integrated project known as Tangguh UCC, comprising of Ubadari field...

Australia’s Woodside moving forward with Scarborough work

When operational, the 433 km trunkline will transport gas from the offshore Scarborough field to the onshore Pluto LNG...

McDermott, partners bag Rovuma LNG FEED contract

McDermott released a statement on Tuesday revealing the FEED award for the Rovuma LNG Phase 1 project, a joint...