Saipem despite U.S. sanctions continues to work on projects in Iran

Status:Risk Alert – Entity in a problematic sector - Sector controlled by the Top Alert entities

Risk Level:unknown %

Saipem has entered into a Memorandum of Understanding (MoU) concerning potential cooperation on major pipeline projects in Iran;

Saipem signed an MOU with Parsian Oil & Gas Development Co. about possible cooperation in revamping and upgrading the 110,000-b/d Tabriz refinery and planned, 120,000-b/d Pars Shiraz condensate refinery to be linked with the 60,000-b/d Shiraz refinery;

Also Saipem signed an MOU with National Iranian Gas Co. on possible cooperation on two natural gas pipelines, IGAT 9 and IGAT 11, with combined lengths of 1,800 km;

Saipem SPA has entered a memorandum of understanding (MOU) with Razavi Oil & Gas Development Co., Tehran, about possible cooperation in the development of Toos natural gas field 100 km northeast of Mashhad, Iran;

Italian energy company Saipem may be interested in working in the Iranian energy market despite U.S. sanctions concerns, Iran`s energy ministry reported;

Iranian petrochemicals executives meet on the sidelines of the PLAST plastics and rubber exhibition in Milan with executives from Saipem;

Saipem officials said they were interested in cooperating with Iranian petrochemical companies against feared re-imposition of U.S. sanctions on Tehran after Washington`s pullout of the Joint Comprehensive Plan of Action, the nuclear deal Iran clinched with the P5+1 group of countries back in 2015;


Oil Industry


Via Martiri di Cefalonia, 67 20097 San Donato Milanese (MI) Italy

+39 025201


Person of interests:
Stefano Cao (CEO);
Marco Mangiagalli (Chairman);

Reason for the color:
» Italy’s Saipem signs MoU for Iranian gas project;
» Saipem signs a second MoU for future pipeline projects in Iran;
» Saipem signs third MOU for work in Iran;