Subsea7-Saipem merger faces in-depth regulatory scrutiny in EU and Australia
The proposed merger between Subsea7 and Saipem, announced in July 2025, is encountering significant regulatory hurdles in key jurisdictions, according to Reuters and other news sources.
According to sources, the European Commission is preparing to launch a full-scale (Phase II) antitrust investigation into the deal, expected to begin around July 22, 2026. The probe centers on potential competition concerns in the global subsea construction, engineering, and offshore services markets.
Simultaneously, Australian antitrust authorities have opened an in-depth review of the transaction over similar worries about reduced competition in offshore oil and gas services.
The developments come shortly after the deal received unconditional clearance from Brazilian regulators.
The companies say they still aim to complete the merger in the second half of 2026, subject to regulatory approvals and other customary conditions. No remedies (such as asset divestitures) have been formally offered at this stage.
The combination would create one of the world’s largest integrated offshore energy services providers, with enhanced capabilities across subsea infrastructure, engineering, and related activities.
Why this news matters:
-
The merger would reshape the offshore services landscape. Combining Subsea7 and Saipem would create one of the industry's largest subsea and offshore contractors, potentially altering competitive dynamics for major offshore oil, gas, and energy projects worldwide.
-
Regulators are signaling concerns about market concentration. In-depth reviews by EU and Australian authorities suggest officials are closely examining whether the deal could reduce competition, affect pricing or limit customer choice in subsea engineering and construction services.
-
Project owners are watching for potential impacts. Operators planning large offshore developments may face uncertainty until regulators reach a decision, particularly if approval requires asset sales, operational concessions or other remedies that could affect the merged company's capabilities and market position.
About the Author
Bruce Beaubouef
Managing Editor
Bruce Beaubouef is Managing Editor for Offshore magazine. In that capacity, he plans and oversees content for the magazine; writes features on technologies and trends for the magazine; writes news updates for the website; creates and moderates topical webinars; and creates videos that focus on offshore oil and gas and renewable energies. Beaubouef has been in the oil and gas trade media for 25 years, starting out as Editor of Hart’s Pipeline Digest in 1998. From there, he went on to serve as Associate Editor for Pipe Line and Gas Industry for Gulf Publishing for four years before rejoining Hart Publications as Editor of PipeLine and Gas Technology in 2003. He joined Offshore magazine as Managing Editor in 2010, at that time owned by PennWell Corp. Beaubouef earned his Ph.D. at the University of Houston in 1997, and his dissertation was published in book form by Texas A&M University Press in September 2007 as The Strategic Petroleum Reserve: U.S. Energy Security and Oil Politics, 1975-2005.