Saipem & Hyperion Systems launch newco SAIPEM-HYPERION Eastmed Engineering

Source: www.gulfoilandgas.com 3/31/2021, Location: Europe

Saipem and Hyperion Systems Engineering join forces to create Saipem-Hyperion Eastmed Engineering Ltd, a jointly controlled company based in Cyprus.

The new company will provide highly specialized consultancy and engineering services for energy and infrastructure industries in the Eastern Mediterranean region. It will support clients to boost their business and achieve their energy transition goals providing smart, sustainable and low environmental impact energy solutions.

Thanks to an extensive product portfolio based on the technologies and capabilities of Saipem and Hyperion, the new company is eager to develop valuable relationships with its local customers, partners and stakeholders.

Luca Brunetto, Head of Business Development and Commercial Strategies of Saipem’s XSIGHT division, dedicated to project definition services, commented: “The new company allows Saipem to consolidate its presence in the East Mediterranean area and to contribute to the energy development of the region. This joint project with Hyperion, a company with many years of activity and a deep knowledge of the local context, creates the basis for seizing new business opportunities and increases our ability to provide services in the strategic EastMed market”.

Symeon Kassianides, Hyperion Group Chairman and CEO, stated: “Our goal is to create a regional engineering and services powerhouse that brings together Saipem’s extensive and valuable experience with Hyperion’s many years of successful experience in advanced solutions and specialized engineering. This is also a material step forward in strengthening the position of Cyprus as an East Mediterranean engineering and services hub”.

Stavros Spanos, Saipem-Hyperion Eastmed Engineering Ltd Interim CEO, added: “We are enthusiastic of the launch of Saipem-Hyperion Eastmed Engineering Ltd. We are already open for business and have started exploring specific initiatives”.


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