SAPMY - Be Cautious Before Selecting Saipem
Saipem has many challenges
Saipem S.p.A. ADR (SAPMY) provides drilling services, engineering, procurement, construction and installation (or EPIC) of pipelines and complex projects in the onshore and offshore energy market. Saipem is facing weakness in nearly all of its segments, except for the Onshore Drilling segment. There has also been a drop in international E&P activities in some of its international geographies in recent months. However, because of strong backlog, SAPMY’s outlook is expected to recover in the next two years. Given its dependence on the offshore market, a steady revival of the