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A Leading Oil & Gas Services Provider

September 2015


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Saipem: A Leading Oil & Gas Services Provider 2

Contents

Highlights• HSE and Q

Business Model

Ownership

Financial Performance

OrganizationSustainability and Local Content

Strategy and Major Projects Under Way

Key Achievements and Activities


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Saipem Today: A Major Multicultural E&C & Drilling Contractor

Pipelayer

LNG Carrier

FSRU

Drill Ship

RegasificationLNG

PlantPetrochemicals

Refinery

PowerDrilling Rig

PlantGas Liquefaction

StationCompressor

ProductionOil & Gas

Gas-to-Solids

Pipelaying

Yard

Repair SystemSircos - Pipeline

Trenching MachineBeluga - Deepwater

Remotely Operated VehicleROV

Pipelay VesselSemisubmersible

FPSO

FieldDevelopment Ship

Drilling RigSemisubmersible

VesselSubsea Construction

Heavylift

Operating in more than 60 countries~ 46,000 employees from > 130 nationalities29 engineering and project execution centers worldwide

11 fabrication yards in 5 continents

REVENUES2014 12.9 B€ 2015 guidance ~ 12 B€

BACKLOGJune 30, 2015 19.0 B €


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A Leading Global EP(I)C General Contractor

High quality player onshoreand in niches offshore

Drilling

Distinctive ‘frontier focus’ in Oil & Gas industries

Full service EP(I)C provider

Most modern, technologicallyadvanced offshore construction fleet

Engineering & Construction

BUs Offshore, Onshore, Floaters


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An impressive track record over more than 60 years

Designed and built:

More than 100 grass roots complexes,2,000 process units

Over 130,000 km of land pipelines,sealines and trunklines

In the last decade, more than 100offshore EPIC projects,

Engineering & Construction

Drilled over 7,300 wells,of which 1,800 offshore

Drilling

including groundbreaking deepwaterachievements


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Global Presence with a Multilocal Emphasis (1/2)

Milan

Engineering Centres

Yards & Main Logistic BasesOther Main Areas and Rep. Offices

Fano

Chennai

Paris

Rome

EP(I)C Hubs


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Global Presence with a Multilocal Emphasis (2/2)

( ° ) 31 st August, 2015

Human Resources

46,277 employees of 130 nationalities (°)


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1,09

0

50

100

150

200

250

300

350

,000

1,000

2,000

3,000

4,000

5,000

6,000

m i l l i o n

h o u r s w o r k e

d

L T I a n

d T R I F r e q u e n c y

R a

t e s

Company performance 1999 – 2014

Worked Manho urs LT I Freq uency R ate TRI Frequ ency Rate

- Lost Time Frequency Rate is the ratio between number of incidents with loss of working days andtotal worked manhours (x 1.000.000)

- Total Recordable Incidents Frequency Rate is the ratio between number of total recordable incident andtotal worked manhours (x 1.000.000)

HSEQ – Top Saipem PriorityLTI & TRI Frequency Rate 1999 – 2014

0.28


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Moving to the next safety plateau

Saipem’s non-profit organization,to sponsor HSE studies, trainingprograms, educational campaigns, etc.

Results and methodologies available tothe industry


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LifestyleTransmitable deseases

Malaria 478 events

7 953 partecipants (*)

Choose Life campaign

A campaign design to provoke ‘Healthy Choices’, specifically targeting 3 of thecritical health challenges facing a globally operating company today

(*) June 30, 2015


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Saipem Businesses and BUs

BU Offshore BU DrillingBU FloatersBU Onshore

E n g

i n e e r i n g

& C o n s

t r u c

t i o n

O f f s

h o r e

O

n s

h o r e


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Highlights•

HSE and QBusiness Model

Ownership





Contents


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Saipem E&C: Complete Range of EPC/EPIC Services

FEASIBILITYSTUDIES

TECHNOLOGYLICENSES

PROJECTDEFINITION

BASIC DESIGNFRONT END

ENGINEERING,PROCUREMENT,INSTALLATION,CONSTRUCTION

START-UP ANDCOMMISSIONING

LEASE

AND OPERATE

MAINTAINAND OPERATE

REVAMPS,UPGRADES,MODERNIZATION

DECOMMISSIONING

ENV. REMEDIATION

SAFETY, QUALITY MANAGEMENT

PROJECT MANAGEMENT


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Saipem E&C: Complete Range of EPC/EPIC Services

Targeting eventhe most challengingand technologicallyadvanced projects ,offshore and onshore

Emphasison maximizinglocal presenceand content

Superior capabilitiesfor harsh, remoteand difficultenvironments

Customized projectand contracting solutions

EPC, LSTK, EPIC, T&I,Cost-plus, Convertible,Lease & Operate


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Saipem Business ModelSupply of complex solutions for even the largest and most challenging projects

Maximum emphasis on Healthcare,Safety, Environmental and Quality

values and culture

High-tech fleet ,unique in global

markets

Broad, well-rooted,sustainable presencein strategic markets

worldwide

State-of-the-artknow-how

and top qualityengineering

STRONGPROJECT

MANAGEMENT


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Saipem in Drilling

International drilling contractor operating both offshore and onshore

13 th largest contractor in offshore drilling,2 nd largest contractor in onshore drilling international markets

Specialization in deep water , harsh environments and remote areas

Offshore positioning(total world*: 751 units, Apr. ‘15)

Onshore positioning(total international markets*: 938 units, workover

excluded, Mar. ‘15)

*excluding North America, China and Russia*drillships, semisubs and jackups

member of

( ° ) 30 th June, 2015


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Saipem’s Assets: Major Engineering CentresSaipem(Milan – Italy)

Saipem(Paris – France)

Saipem(Rome – Italy)

Saipem(Fano – Italy)

Saipem India Projects(Chennai – India)

EP(I)C HUBS

ENGINEERING CENTRES

Saipem Canada

(Calgary - Canada)

Saimexicana(Mexico City - Mexico)

Xodus Subsea(London – UK and> 10 other locations)

Saipem do Brasil(Rio de Janeiro - Brazil)

Sofresid(Regional Offices - France)

Moss Maritime

(Oslo - Norway)

Snamprogetti Romania(Bucharest - Romania)

Saipem India Projects(New Delhi - India)

Saipem(Rijeka - Croatia)

Saipem Indonesia(Jakarta - Indonesia)

Saipem(Sharjah - UAE)

Saipem ContractingAlgérie(Algiers - Algeria)

SA.LI.CO.(Tripoli - Libya)

Saipem(Vibo - Italy)

Saipem Contracting(Nigeria)(Lagos - Nigeria)

Deepwater Engineeringand Technology(Luanda - Angola)

SnamprogettiEngineering & Contracting(Al-Khobar - Saudi Arabia)


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Arbatax Yard Italy

Rumuolumeni Yard Nigeria

Pointe Noire Yard Republic of the Congo

Soyo Yard AngolaAmbriz Yard Angola

Dammam Yard Saudi Arabia

Karimun Yard Indonesia

Kuryk Yard Kazakhstan

Kurik Yard, Kazakhstan

Soyo Yard,Angola

Saipem’s Assets: Fabrication Yards (*)

(*) Construction support facilities worldwide not included

Edmonton Yards Canada

Ambriz Yard,Angola

Rumuolumeni YardPort Harcourt, Nigeria

Guarujà Yard Brazil

Karimun Yard, Indonesia

Guarujà YardBrazil

Edmonton Yards - Canada

Rumaila Yard Iraq


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Saipem: A Leading Oil & Gas Services Provider

Field Development / SURFLifting and DLB

Ultra-Heavy Lifting& Deepwater Pipelaying

Saipem 7000

Pipelaying

Castoro OttoSaipem 3000

Castorone

Saipem’s Assets: Offshore Construction VesselsOur offshore fleet exceeds 40 units

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Normand Maximus

Underconstruction

Saipem FDSSaipem FDS 2

Castoro Sei Castoro 10 Castoro XI


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Saipem 12000Angola

Saipem 10000Mozambique

Scarabeo 5Norway – North Sea

Deep Water

Perro Negro 8

Italy

Perro Negro 7Saudi Arabia

Jack-Up

Scarabeo 9Angola

Scarabeo 8Norway – North Sea

Saipem’s Assets: Drilling Units17 offshore units and more than 100 onshore rigs

Heliportable Rig Ecuador/Perù

Desert EnvironmentAlgeria/Saudi Arabia

Kashagan Field - Kazakhstan

Onshore

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Contents


Business Model

Ownership






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Saipem Ownership

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Market Cap. € 3.9 Billion@ December 31, 2014

Listed on Milan Stock Exchange


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Contents


Business Model

Ownership






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(B€ )Financials

3.9

5.3

10 1

3.2

3.5

7 3

0.40.5

10 3

4.8

4.3

0.60.6

11 2

0.7

0.8

5.2

4.5

3.5

9 3

5.1

0.47

0.30.4

6.0

5.1

12 6

0.7

0.8

13 4

6.2

5.4

0.8

1.112 3

5,1

5.3

0.8

1.2

7.2

3.8

12 9

0.30,4

0.7

1.2

3.4

1.0

0.40,5

5 4

2006 20142007 1 HF152008 2009 2010 2011 2012 2013

REVENUES

4.5

0.6

6.1

4.4

3.53.7

3.7

0.3

5.1

7.7

4.6

0.30.3

7.5

0.6

0.6

1.2

0.8

1.6

2.2

12 5

0.6

0.8

5.0

6.1

4.0

7.5

0.9

1.0

2.6

5.8

0.9

1.4

10.0

6.4

2006 20142007 1HF152008 2009 2010 2011 2012 2013

0.9

0.7

0.10.2

2.7

0.4

13 9

10 7

9 9

12 9

11 9

13 4

10 7

18 0

3 5

NEW CONTRACTACQUISITIONS

9.2

4.7

3.8

7.1

4.2

15 4

2.3

5.4

18 7

8.0

3.4

3.8

5.5

10.5

20 5

12 9

6.1

4.2

3.41.5

1.5

1.1

0.7

0.4

6.6

9.6

20 4

3.3

0.9

8.7

6.7

19 7

3.2

1.1

17 1

4.1

8.3

3.4

1.2

11.2

6.7

1.4

22 1

2.9

2006 20142007 1HF152008 2009 2010 2011 2012 2013

19 0

6.1

9.3

2.5

1.1

19 1

BACKLOG


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Major Global E&C Companies in Oil & Gas MarketsRevenues in 2014 (B € )


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Balanced Exposure to Oil & Gas Industry: Backlog Analysis

44%

48%

5%3%

Majors/Supermajors

National

Independents

Others

North Africa

Europe America

West Africa

CIS

Asia Pacific

Middle East

25%

13%8%

6%

30%

1% 18%24% 6%

9%

19%

1%

4%36%

Saudi Arabia

Kazakhstan

Nigeria

Angola

Other

Canada

Brazil

TOTAL BACKLOG AS OF December 31, 2014 = 22.1 B €

BY GEOGRAPHIC

AREA

BY

CLIENT

BY COUNTRY WITH MAJOR

‘LOCAL -CONTENT’ FOCUS


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Contents


Business Model

Ownership






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Saipem Operations

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Project and PostOrder

Management

COO

G. CASELLI

BUOffshore

S. PORCARI

BUOnshore

E. MAGNANI

BUDrilling

E. PALLIOTTO

COO Office

BUFloaters

F. PALLAVICINI

P. BARCLAY

Engineering,Technologies &Commissioning

A. CIPELLI

A. GEBBIA

Europe &North Africa

J. L. CHASSAGNE

C.I.S. & Caspian Sea

a.i. G. CASELLI

Central Africa

G. D’ALOISIO

Southern Africa

L. FURINI

Middle East

G. SECCHI

South East Asia& Oceania

G. MARTELLI

North America

V. TESTAGUZZA

South America

L. CATTEDRI

E&CTendering

M. PANTALEONE


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Contents


Business Model

Ownership





l


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Local Content MaximizationA cornerstone of Saipem’s business philosophy

Develop/invest in localproject execution centres

Project ManagementEngineering

Procurement and Subcontractswith Local Suppliers

Prefabrication Yards

Local hiring

Training, know-how transfer

Local partnerships

HSE, medical trainingand assistance

Creation of long-term social andeconomic value

Development of local skills Effective engagement ofall stakeholders

Objective: deeply rooted local sustainable presence


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Local Presence: Saipem in Canada

Full service project execution centre, with international reachUpstream

Pipelines

Refining

Oil sands processing

Shale gas

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Mastered exacting local project execution requirementsClimate impact

Modularization

Pioneered new entry mechanisms for foreign laborCompleted own prefabrication yards

The only real local EPC contractor in Alberta,with full control of the entire work sequence and risk assumption

Business model based on EPC

Innovative contractual and risk management schemes, new for theCanadian market

L l P S i i I


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Local Presence: Saipem in Iraq

Sajer, a JV with local partners, registeredin Iraq since 2009

Rumailah Camp Facilities

Sajer Assets:Baghdad Head Office (Int. Zone)Rumailah: Camp, Logistics Base, Prefab Yard,Training Centre, Laydown Yard, Batching PlantSharing people and assets with Saipem ME facilities

Drilling OperationsTechnical service agreement to support Iraqi drilling company

4 EPC contracts for water treatment, processing plants andpipelines for ExxonMobil Iraq Ltd.

Numerous projects under wayIraq Crude Oil Export Expansion Project Phase 2, Basra OilTerminal, South Oil Company

Umm Qasr Marine Terminal rehabilitation, Inlet BoosterCompression Station, FCP Majnoon and other projects forShell/Basra Gas Company

Central Metering and Manifold Platform Loadout – Iraq Crude Oil Export Expansion Project, South Oil Company

In execution

In execution

L l P S i i B il


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From occasional contractor topermanent player

8 major deepwater EPIC projects underwayOne Leased FPSO in operation offshoreVitoria3 rigs deployed for onshore drilling

Guarujá YardFPSO Cidade de Vitoria

• Guara & Lula NE Pipelines• Lula NE – Cernambi

New flagship Saipem FDS 2 vessel,ideally suited for Pre-Salt ultra-deepwater project execution

(Picture of Saipem FDS 2 vessel that willperform the offshore activities)

Local Presence: Saipem in Brazil

Rio Polimeros ChemicalComplex (completed in 2005)

Application of highly specializedultra-deep water fleet

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Rio Engineering Centre

Developing new Guarujá Yard and EngineeringCentre in Rio

Within the industrial hub of Santos, the largest port andindustrial area in BrazilStrategically located to support development of new ultra-deepwater Pre-Salt fieldsFabrication of subsea and floating structures and supply ofsupport services to the specialized fleet and project execution

EPIC contracts for the Lula Norte,Sul and Extremo Sul Projects

Lula Extremo Sul Project


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S i S


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Excel in all steps of the oil & gas value chain, onshore and offshore, upstream and downstream,as well as in selected diversified businesses

Saipem Strategy

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DRILLING

UPSTREAM

OFFSHORE FIXEDFACILITIES

SUBSEA FIELDDEVELOPMENT

FLOATERS

OIL & GASPRODUCTIONAND PROCESSING

OIL

GAS

PIPELINES

ONSHORE

OFFSHORE

DOWNSTREAM

OIL REFINING IGCC

INDUSTRIAL MARITIMEWORKS

INFRASTRUCTURES ENVIRONMENT& RENEWABLES

MAINTENANCE& OPERATIONS

GASLIQUEFACTION

GAS-TO-LIQUIDS

GAS-TO-SOLIDS

LNGREGASIFICATION

POWER

PETROCHEMICALS

Advanced Subsea Offshore and Onshore Technology Development


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Advanced Subsea, Offshore and Onshore Technology Development

SURF

Riser concepts : SIR, BIRD,…

Forged ends PIPPlastic liners : FBJ

Active heating for pipe in pipeWelding

Subsea Processing

Gas/liquid separation : MultipipeLiquid/Liquid separation : SpoolSep

Seawater treatment: SPRINGS

Floaters

Offshore LNG offloadingFLNG technologiesDry tree Unit (WHB)

Subsea Field Architectures

SIR Riser

SPRINGSMultipipe

FLNG tandemoffloading system

SpoolSep

SpoolSep Multipipe

Flowlines with PiP, heating,liners, …

Process Technologies

"Zero emissions" urea synthesisEnvironment and remediation control

Advanced Welding & PipelayingTechniques

Ultra-shallow, ultra-deep, Arctic pipelayingProductivity accelerationExotic and clad materials

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FLNG facility

M g j t U d W O h


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CNRL Horizon SecondaryUpgrader, Phases II and III- Canada (Picture of CNRL – Phase I)

Chevron, LNG Loading JettyGorgon - Australia

Southern SwampAssociated Gas SolutionSPDCNigeria

Mega-projects Under Way, Onshore

Shedgum-Yanbu Pipeline,Saudi Aramco, Saudi ArabiaSouth Caucasus Pipeline,Azerbaijan – GeorgiaPipeline El Encino, MexicoWater Pipeline System - Chile

Benisede

Tunu Okupushi

Ogbotobo

Socar & Turcas Aegean Rafineri – Turkey (Vision 2023)Jazan Refinery Pckgs 1&2,Saudi Aramco, Saudi Arabia

Fertilizer ComplexDangote Fertilizer Ltd.,Nigeria

EPDM Rubber PlantVersalis, Italy

(Pictured: Khurais Field Development Project)Khurais, Mazajili and Abu Jifan production centers expansionSaudi Aramco, Saudi Arabia

Al-Zour New Refinery Project (NRP) Pckgs 4 & 5,KNPC, Kuwai t

Phase III

M j EPC P j t U d W O h


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Shah Gas Development Project Abu Dhabi Gas Devel. Co. Ltd.United Arab Emirates

LNG GL3Z ArzewSonatrach

Algeria

South Caucasus Pipeline ExpansionShah Deniz Consortium

Azerbaijan-Georgia

EPDM rubber plant expansion

VERSALISItaly

Major EPC Projects Under Way, OnshoreHigh Speed RailwayRFIItaly

Horizon Oil SandsCanadian National Resources Ltd.Canada

Khurais Mazalij and Abu Jafan fieldsNew facilitiesSaudi AramcoSaudi Arabia

SSAGS FacilitiesSPDCNigeria

Topolobampo Gas PipelineTranscanadaMexico

Rabigh II ComplexSaudi Aramco/SumitomoSaudi Arabia

Ammonia and Ureaproduction complexDangote Fertilizer LtdNigeria

Zubair Gathering SystemExxonMobilIraq

STAR Rafineri A.S.Grassroots RefineryTurkey

West QurnaExxonMobilIraq

Shedgum Yanbu Pipeline Loop 4&5Saudi AramcoSaudi Arabia

Jazan Refinery, Packg.s 1 and 2Saudi AramcoSaudi Arabia

Litchendjili Gas Treatment PlantEni CongoCongo

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0615

Regasification TerminalPolskie LNG CompanyPoland

Shell Petroleum DevelopmentOtumara-Saghara-EscravosGas PipelineNigeria

Pipeline El Encino,TranscanadaMexico

Al-Zour New Refinery Project (NRP)Packages 4 and 5KNPCKuwait

Water Pipeline SystemCODELCO

Chile

M j U d W Off h d Fl


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Sapinhoa Norte and Cernambi SulGuara & Lula NE Export Pipelines-Brazil (Pictured)

Mega-projects Under Way, Offshore and Floaters

Ichthys Gas ExportPipelineAustralia

Liwan 3-1 Field - China(Picture of the Saipem FDS 2 vessel thatwill perform the offshore activities)

First DeepwaterField Developed in theSouth China Sea

Lula Norte, Lula Sul, andLula Extremo Sul Pipelinesand Riser SystemsP55 – Brazil (Pictured)

Petrobras, BrazilPre-salt Projects

Egina Field Development,Total, Nigeria

Al Wasit Gas ProgramSaudi Arabia

CastoroOtto

Shah Deniz Stage 2,BP Exploration, Azerbaijan

Recentlyawarded

FPU for JangkrikComplex Project Dev.Eni M.B., Indonesia

Justawarded

Two FPSOs for Kaombo - Field Dev. Project, Block 32Total, Angola

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New offshore structures(Part of Long Term Agreement)Saudi Arabia

Major EPIC and T&I Projects Under Way Offshore and Floaters


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Major EPIC and T&I Projects Under Way, Offshore and FloatersVarious platform and pipeline installationsNorth Sea

Al Wasit Gas Program Arabiyah and Hasbah fields developmentSaudi AramcoSaudi Arabia

Ichthys Gas Export PipelineINPEX Australia

Long Term AgreementOffshore Maintain Potential ProgramSaudi AramcoSaudi ArabiaFPSO Cidade de Vitoria

Petrobras

Brazil(Leased - in operation)

Sapinhoa Norte and Cernambi SulSLWR and FSHRPetrobrasBrazil

Sapinhoa Norte and Iracema Sul ProjectPetrobrasBrazil

Lakach field developmentPemexMexico

Shah Deniz Stage 2BP

Azerbaijan

Lula Norte, Lula Sul andLula Extremo Sul projectPetrobrasBrazil

Kizomba Satellites Phase 2 TiebacksEsso

Angola

FPU for Jangkrik Complex ProjectEni Muarau BakauIndonesia

Egina Field DevelopmentTotalNigeria

FPSO Units forKaombo Field Dev.Total

Angola

FPSO GimboaSonangol

Angola(Leased - in operation)

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0615

Kashagan field – Pipeline InstallationNorth Caspian Operating CompanyKazakhstan

Filanovsky FieldExport pipelines and T&I activitiesLukoilRussia

New Offshore StructuresSaudi AramcoSaudi Arabia

Saipem Drilling Business Unit: Key Utilization Data


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Saipem Drilling Business Unit: Key Utilization Data

60%

70%

80%

90%

100%

'09 '10 '11 '12 '13 '14

deep water floaters

mid water floaters

high specs jackups

standard jackups

tender assisted

heavy rigs

medium rigs

light rigs

all fleet

60%

70%

80%

90%

100%

'09 '10 '11 '12 '13 '14

Utilization rate significantly higher than the average of competitors

% of utilizationoffshore drilling

% of utilizationonshore drilling

Saipem Offshore Drilling Fleet Deployment (J l 2015)


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Deep Water Floaters

Mid Water Floaters

High Specs Jackups

Standard Jackups

Tender Assisted

Logistic Bases

S12000(drillship )

Scarabeo 9(6th gen semi)

TAD

Scarabeo 3(2nd gen semi)

Perro Negro 4



Perro Negro 2 - 3 - 5

Perro Negro 7 - 8



Saipem Offshore Drilling Fleet Deployment (July 2015)

S10000(drillship )

Scarabeo 7(5th gen semi)

Saipem Onshore Drilling Rigs Deplo ment


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Saipem Onshore Drilling Rigs Deployment (June 2015)

Chile2 RIGS

Bolivia4 RIGS

Peru24 RIGS

Ecuador3 RIGS

Colombia7 RIGS

Venezuela28 RIGS

Mauritania1 RIG

Tunisia1 RIG

Italy2 RIG

Turkmenistan1 RIG

Kazakhstan8 RIGS

Saudi Arabia28 RIGS

Congo2 RIGS

Contents


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Contents


Business Model

Ownership


Organization

Sustainability and Local Content



Mega Oil Projects Upstream


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Saudi Aramco, K.S.A.Mega Oil Projects Upstream

Individual project values: > 2 bn $ eachLast years total awards: > 12 bn $

FEED(Cost-plus)

EPC(Lump Sum)

With pre-agreed formulae

Flagship projects to bring huge new gasand oil production capacity on streamquickly

New “Convertible” contract structures:

Khurais Oil Field: Saipem awarded 60%of total investmentSource: Saudi Aramco (2007)

Qurayyah SeaWater Treatment

Khurais WIPS Khurais UtilitiesPackage

QatifCentral ProducingFacilities

KhursaniyahProcessingFacilities

Manifa CentralProcessingFacilities


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Floating Oil and Gas Production


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Floating Oil and Gas Production

ExxonMobil, ErhaFPSO, Nigeria

Total, Dalia FPSO, Angola

Designed and completed:

6 converted FPSOs under Lease & Operatecontracts (3 in operation)

Continuously developing new conceptsand top qualityengineering services ,including the designof morethan 20 semisubmersible units.

9 new built floating production systems,including 3 large scale projects with storagecapacity exceeding 2 million barrels of oil

FPU for Jangkrik Complex ProjectEni Muara BakauIndonesia

Latest Award

Two FPSOs for KaomboField Development Project,Total, Angola

Latest Award

Complex Integrated Offshore Fixed Facilities


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Complex Integrated Offshore Fixed Facilities

Saudi Aramco, Saudi Arabia,Al Wasit Gas Program

EPIC flagship projects:

Agip Gas B.V., LibyaBahr Essalam Full Field Development

Completed more than 100 offshore EPIC projectsover the last ten years, including severalchallenging large-scale integrated complexes

Bahr Essalam Full Field Development:Gathering sealines, export trunklines, subsea productionsystem, production platform

Al Wasit Field Development:Complete system, including 12 wellheads, 2 tie-in and 1injection platforms, 200 km export trunkline offshore, 120 kmonshore pipeline, service pipelines and sealines, marine works

South Oil Company, IraqCrude Oil Export ExpansionProject, Phase 2(Picture of Castoro otto installing similar platform)

UnderExecution

Close tocompletion

Shah Deniz Stage 2T&I of jackets, topsides and subsea production systems andsubsea structures; laying of over 360 km of pipelines; divingsupport services; upgrading of main installation vessels

BP, Shah Deniz Field (general layout), Azerbaijan

LatestAward

Platforms Installation


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Platforms Installation

Saipem 7000 installing platform accommodation module

Installed 2.5 million tons of offshore structuresHeaviest lift record: 12,100 t integrated deckFloatover and heavy lift techniques

Sakhalin Island, Russia, integrated deck floatover installation

Jacket launch

Subsea Deepwater Field Development


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Subsea Deepwater Field Development

Elf Petroleum Nigeria, Usan, NigeriaEPCI of subsea system connecting42 wellheads to FPSO, with export sealines

Designed and executed more than 20 majordeepwater systems in the last ten years

Numerous high technology proprietarysolutions available for risers and flowlines

Gazprom, Sakhalin 3, Russia(*) Not deepwater

Burullus Gas Company,West Delta Deep Marine Project,Egypt(Picture of Saipem FDS operations i n Egyptian waters)

CurrentlyUnderExecution

Under way:Egina Field Development,for Total Upstream Nigeria Ltd.EPIC Contract for Umbilicals,Flowlines and Riser System

Sapinhoa Norte and Cernambi Sul Projectfor Petrobas EPIC contract for Steel LazyWave Riser and Free Standing Hybrid Riser for the gas export systems

Egina Field Development - Nigeria

UnderExecution

Sonsub Remote Subsea Technologies


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Sonsub Remote Subsea Technologies

Repsol, Spain, PrestigeDeepwater oil recovery

Construction Services

Diverless Tie-in and Pipeline Repair SystemsDiving OperationsSpecialist Tooling & EngineeringSurvey & Positioning ServicesDedicated fleet of 11 Construction Support Vesselsand Several ROVs

Bar ProtectorDive support andconstruction vessel

Innovator 250Heavy duty ROV

Deepwater sealine repair system

More than 200 subsea inspection, maintenance,repair and support services completed world-widein the last 20 years

Deepest recovery operation of oil from tankerat 3,850 m water depth (Repsol, Prestige)

Full service deepwater intervention capabilities:

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Refining and Heavy Oils Conversion


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g y

CNRL - Canada

37 grass-roots refineries World-wide track record

30 hydrocrackers, H-Oil and LC Finers

In the last decade, emphasis on “Bottoms -of-the- Barrel” upgrading

Recent focus:

Staatsolie, Suriname, refinery expansion (modular) EST First Commercial Unit for Eni R&M

2 desulfurization and amine units forPemex - Refinacion, Mexico

Canadian projects

Eni - ESTSannazzaro Refinery

Staatsolie MaatschappijSuriname N.V.

Reformer and Aromatics Complexfor Saudi Aramco/Sumitomo - Rabigh II, Saudi Arabia

Aegean Refinery Project

CNRL Horizon Upgrader Phases II and III - FEED and EPC

212,000 BPSD Grassroots Refinery Aliaga, Turkey

Jazan IGCC ComplexSaudi Aramco Saudi Arabia15 gasifiers, plus H 2 , ACR, Soot Ash Removal, Sulfur Recoveryand other units

Al-Zour New Refinery Project (NRP)for KNPC Packages 4 and 5, Kuwait

InExecution

InExecution

InExecution

InExecution

InExecution

IGCC-Integrated Gasification with Combined Cycle


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Significant interrelationships EPC/Project Financing requirementsDesigned and built the two world largest IGCC plants 0n stream

GE (then Texaco) and Shell technologies

Integration of many technologies and proprietary equipment

Designing and building the world largest gasification projectSaudi Aramco Jazan IGCC

ISAB, Priolo - Italy

512 MWe

Sarlux, Sarroch - Italy

550 MWe

Contributed to technology optimization and development(E.g. Reactor redesign)

Eni R&MSannazzaro - Italy

250 MWe

Feed

Quenchwater

Syngas

Sootwater

Vapor Oxygen

Feed

Quenchwater

Syngas

Sootwater

Vapor Oxygen

15 gasifiers, plus H 2 , ACR, Soot Ash Removal, Sulfur Recovery and other unitsfor new grassroots refinery in Jazan, KSA

Latest Award

View of a tipical SulphurRecovery Unit

Gas to Market


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Processing 20 Integrated Natural Gas Complexes

Individual project values > 1 bn $

Designed and built > 200 process units

Abu Dhabi Gas Development Co.Shah Gas Development ProgramEPC Packages 2, 3, 5

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Gas to Market


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Onshore Transportation Systems - Pipelines

Hawiyah Gas Pipeline SystemSaudi Arabia

Kashagan - Caspian Sea NAOC GTS4 - Nigeria

Leading global E&C contractorfor oil and gas pipelines

30,000 km of oil & product pipelines40 pumping stations (~2,100 MW)

Over 60,000 km of gas pipelines> 90 compressor stations (~3,000 MW)

1,400 km of water pipelines11 Pumping Stations (~130 MW)

Alinta - Australia

BS 160 - KuwaitBS 171 - Kuwait

Topolobampo Gas PipelineTranscanadaMexico

South Caucasus PipelineAzerbaijan – Georgia,

Shas Deniz Consortium Water Pipeline System

160 km, reaching heights of 3,000 metresCODELCO, Chile

In Construction

Latest Award

Latest Award

Gas to Market


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Gas to MarketOffshore Pipeline Systems

Nord Stream Gas Pipeline – Baltic Sea1224 Km, 48’’

Leader in deepwater and shallow water pipelaying:laid over 35,000 km of sealinesDesigned and laid the most challenging offshore pipelinessince the 70sNumerous complex mega-projects under way in Brazil,Australia etc.New state-of-the-art, high productivity Castorone pipelayingvesselfor very large diameter pipes in sub-arctic conditions and in deep waters• Inpex - Ichthys LNG Project - Australia

(Picture of Castorone vessel that will performthe offshore activities)

Completedahead ofschedule in April 2012

Castoro 6On duty for Nord Stream

Saipem 7000

Installationunderway

Flagship Integrated Mega-project: Kashagan Experimental Program


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Major offshore and onshore integratedproject for the production of crude oil andassociated gas:

Kashagan Field

EPCI of trunklines and production flowlinesTransportation & installation of piles, flaresand modular units

Fabrication of structuresHook-up and commissioningDrilling of multiple wells from artificial islands

Developed locally purpose-built constructionfleet and unique taylor-made pipelayingtechniques and equipment

Two 95 kilometer pipelines, connectingD island in the Caspian Sea to the Karabatanonshore plant in Kazakhstan

Offshore artificial islands for drilling, process and utility

facilitiesOil and gas export systemNew onshore processing facility

Saipem’s scope:

Latest Award

Flagship Pipeline Integrated Mega-project: Sakhalin II


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Saipem main contractor - multibillion EPC contracts

Client: Sakhalin Energy Investment Co. (SEIC)

Very challenging logistics: Remote and inhospitable terrain T < -45 °C, frost Snow storms Mountains, slopes >15 °

Built over 5,000 km of temporary access roads

Start-up Dec. 2008 Shell CEO 2008Safety Award

Oil & gas twin 780 km land pipeline system Oil: 24” Gas: 48” > 80 MM construction man-hours Driven > 150 MMkm

Several segments of sealines and subseapower and communication cables

Offshore transportation and installation oftwo massive integrated platform decks

Gas to Market


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LNG – NG Liquefaction

1 st multi-billion $ contract as MainContractor to design and execute aworld class

4.7 MTPA LNG project

Arzew - LNG GL3Z - Algeria

NLNG, Bonny Island - Nigeria, Trains 1 ÷ 6 EPC / Train 7 PlusRasGas, Ras Laffan - Qatar EPCTrains 3 ÷ 5

To date, designed and built 9 otherLNG trains, 35 MTPA total capacity

Major synergies with Saipem’s long-standing experience andcapabilities in marine works andLNG tankage

Completing start-up

Several FEED and pre-EPC projectsunder way for major new projects inCanada, Mozambique etc.

Gas to Market


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LNG Import / Storage / Regasification

LNG Import TerminalChengtoujiao, Guangdong - China

Canaport LNG - Canada

Extensive proprietary technology

and expertise

Designed and built:

Pioneer in new technologies for treatment,storage, handling of liquefied gas

12 world scale LNG terminals More than 40 LNG tanks

LNG Import TerminalZeebrugge - Belgium

Fos CavaouMarseille - France

Polskie LNG TerminalSwinoujcie - Poland

Close toCompletion

Floating LNG – Regasification and Liquefaction


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First FSRU worldwide positioned offshore

Combining onshore and offshore engineering

and construction competencieswith the emerging conversion / new builtfloating LNG market

Several designs and FEED studies developedand under way

Significant R&D effort way

Broadwater FSRU, USA,pre-FEED and ITT preparation

Azure, Deepwater LNG FPSOfor mild environments, JointIndustry Project

Petrobras, LNG FPSO, FEED

OLT, FSRU Toscana, Italy

Floating Hose Development with Trelleborg

Gas to Market


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Gas-to-Liquids

Chevron Nigeria Ltd. - Escravos, Nigeria

Sasol process to produce premium dieselfrom natural gas

ATR - New Syngas production technology

from Haldor TopsoeMultibillion $ contract, in JV with KBR

One of three world scale GTL projects (34,000 bpsd)

Modules Fabrication in Abu Dhabi

Natural Gas + Steam

Oxygen

Syngas

Natural Gas + Steam

Oxygen

Syngas

Oxygen

SyngasGTL site - Nigeria GTL site - NigeriaModules shipmentSingle module Module loading

Gas to Market


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Omifco - Oman

Ammonia 2,194 t/dUrea 3,835 t/d

Engro Chemical Pakistan Ltd.Daharki - Pakistan

Ammonia 2 x 2,300 t/dUrea 3,850 t/d

Qafco-5 - Qatar

Snamprogetti ™ Urea Technology: More than 130 licenses world-wide

Designed and built more than 30 large

Ammonia/Urea complexes

World largest single train complexes: 3,850 t/d3 on stream2 in design and construction3 in design preparation

‘Jumbo’ single train - ready! >5,000 t/d

Ammonia – Urea Complexes

World largest complex in operation >5,000 t/d(2 trains):

Urea

Urea

Urea

Dangote Complex,Nigeria

Ammonia 2 x 2,200 t/dUrea 2 x 3,850 t/d

Ammonia 2 x 1,750 t/dUrea 2 x 2,530 t/d

Petrochemicals


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DushanziChinaEthylene

5 Ethylene13 HD/LLDPE

Univation Dow ExxonMobil

VersalisLummus Global

Engineered and built most advancedpetrochemical plants

Access to first class technologies

10 LDPE3 Styrene

RIO POLIMEROS, Rio de Janeiro - Brazil

Ethylene (520,000 t/y)LLDPE (2 x 250,000 t/y)

PetrochinaDushanzi Petrochemical Co.SSBR (100,000 t/y)SBS (80,000 t/y)

PE, Brindisi - ItalyUNIPOL™

Qatofin - QatarLLDPE (450,000 t/y)

Expansion of the Ethylene Propylene DieneMonomer plantVersalis, Ferrara, Italy

Latest Award

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Power Plants


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Designed and built over 10,000 MW(EPC basis)

Italy, France, Algeria, Nigeria

Ansaldo, GE, Alstom, Siemens turbines

Natural gas and syngas, combined andsingle cycle, combined heat and power,waste to energy

Ferrera Erbognone - Italy

Berrouaghia - Algeria Dombasle - FranceRavenna - Italy Okpai - Nigeria Afam - Nigeria

Infrastructure


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Milan-BolognaPo river crossing

Italian High Speed Railway System

Milan-Verona 112 km

Basic and Front End designs completed EPC started onMilan-Brescia stretch

Milan-Bologna 182 km

Main Contractor for Design and Construction(Single Contract > 6 B € )

Inaugurated in 2008

Calatravaroad bridge

Ruwais - Shah, Habshan (U.A.E.) 265 km

EPC Railway Track

Shah-Ruwais Railway track

Under Way

Environment & Renewables


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Business Line with core team ofdedicated specialists integrated intoglobal Saipem organization

Site RemediationPriolo - Italy

Full Environmental Services Provider: Contaminated sites remediation

Water and waste treatment plants and management

Ecology, monitoring and emissions abatement

Developing of new environmental andrenewable technologies and systems

CCS programs ElectrochemicalRemediaton Technology

Groundwater Treatment PlantPorto Torres - Italy

Physical Barriersat Porto Marghera - Italy

Marine Works


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Shore-line facilities for onshore projectsInnovative structures

Optimization of overall facilitieslayout

In-house specialist expertise:

Ports & Container Terminals Waterfront Developments

Jetties & Berths Breakwaters Oil & Gas Marine Structures

Recent awards:

Tangier HarbourMorocco

Costa AzulMexico

Guangdong LNG - China Callao ContainerTerminal, LimaPeru

Ammonia/Urea jetty, Arzew, Algeria (Sonatrach) LNG loading jetty, Barrow Island, Australia (Chevron) Bulk unloading and loading jetty, Sohar Port, Oman

Tangier II Port Project, Morocco (TMSA) Pointe Noire Container Quay, Republic of the Congo Puerto Nuevo Export Terminal, Colombia

Coastal Engineering Structural Design Hydraulic Testing Foundation Engineering Construction Methods

Melchorita LNGPeru


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Maintenance, Modifications & Operations


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Leverage on continuing in-country local presence

Global O&M Services around 3 main products:

1. Maintenance & Inspection Engineering CMMS, Assets register, RCM, RBI Spare parts management Training services Special studies

3. Modifications & Turnaround Projects Project management

Engineering & procurement services Fabrication support from local yards Installation capabilities

2. Operations & Maintenance Long-TermContracts

Technical expertise

QHSE continuous improvement plans On-the-job training programs Local content and nationalization


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