Capital expenditure

Capital expenditure in 2013 amounted to €908 million (€1,015 million in 2012) and related to:

  • €398 million in the Offshore Engineering & Construction sector, relating mainly to the final stages of the construction of a new pipelayer, the ongoing development of the new base in Brazil and the maintenance and upgrading of the existing asset base;
  • €125 million in the Onshore Engineering & Construction sector relating to the purchase of equipment and facilities for the fabrication yard in Canada and the maintenance of existing assets;
  • €174 million in the Offshore Drilling sector, relating mainly to class reinstatement works for the semi-submersible rigs Scarabeo 5 and Scarabeo 7, and the jack-up Perro Negro 3 and the maintenance and upgrading of the existing asset base;
  • €211 million in the Onshore Drilling sector relating to preparation works on four new rigs due to begin operations in Saudi Arabia and the upgrading of the existing asset base.

The following table provides a breakdown of capital expenditure in 2013:

Capital expenditure (€ million)2012 2013 
Saipem SpA    89  157 
Other Group companies    926  751 
Total    1,015  908 
Offshore Engineering & Construction    525  398 
Onshore Engineering & Construction    84  125 
Offshore Drilling    284  174 
Onshore Drilling    122  211 
Total    1,015  908 

Details of capital expenditure for the individual business units are provided in the following pages.