Engineering & Construction

In the Engineering & Construction segment, the difficulties incurred in certain projects, mainly in the E&C Onshore and Offshore segments, affected severely the business profitability in 2013. Despite this, the sector expects to recover its profitability already in 2014 and to improve gradually marginality in the following years leveraging on the completion of low-margins contracts still present in the current portfolio, effective commercial discipline and investment activities recently completed. These actions will strengthen Saipem’s business model in strategic areas and in strategic markets (projects of large dimension and with high technological complexity, in adverse environmental conditions).