Saipem

In a 2020 Saipem report, "TPC complex expansion study, Tabriz Petrochemical Company, Iran," is listed under "Projects." 

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"The company was reported as potentially seeking development opportunities for the Toos Gas Field. In 2018 CalPERS designated the company as under review. In 2019 CalPERS changed the designation to “being monitored” because CalPERS’ initial screening has not identified the company as having involvement in the regions and/or activities targeted by the Act. CalPERS has maintained the company in “monitor” status for 2020. CalPERS continues to monitor the company for possible changes in status relevant to the Act."

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Saipem SpA had previously been removed from the Iran-related securities list. In 2017, CalSTRS designated Saipem SpA as “Under Review” for potentially having new ties to Iran and initiated a new review process. In 2018, CalSTRS removed Saipem SpA. after reviewing the company’s business with Iran and internal controls to prevent sanction violations.

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"Italy-based Saipem, a leading oil and gas contractor, has expressed readiness to have an active presence in Iran's petrochemical ventures. According to NIPNA, the National Petrochemical Company's official news agency, talks were held between NPC's Managing Director Reza Norouz-Zadeh and the Italian firm's high-ranking officials on the sidelines of "Milan Plast 2018 Exposition" in Italy. "Negotiations revolved around optimizing and revamping production methods,"" (Financial Tribune, "Italy's Saipem, Iran's NPC Explore Grounds for Petrochem Coop.," 7/9/2018).

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"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. The MOU is the third Saipem has signed with Iranian entities this year. The Italian company said Toos field has more than 60 billion cu m of gas in place and capacity to produce 4 million cu m/day. The development would involve the drilling of 5-7 wells and design and construction of production, transportation, and processing facilities. In January, 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 in January, 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." (April 12, 2016).

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"During the official State visit to Iran of the Italian Prime Minister, Matteo Renzi, Saipem Chief Executive Stefano Cao and Ali Yadghar, Managing Director of Razavi Oil & Gas Development Company, entered into a Memorandum of Understanding (MoU) concerning potential cooperation on a major project in the country. The MoU envisages discussions aimed at potential cooperation on the Toos Gas Field Development Project, located 100km northeast of Mashhad. The gas field, holding over 60 billion cubic meters of gas in place, has the capacity to produce some 4 million cubic meters of gas per day. The development project encompasses the drilling of 5 firm plus 2 optional wells, and the design and construction of all upstream gas production facilities and those for transportation and processing." (April 12, 2016). 

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"Saipem has entered into a Memorandum of Understanding (MoU) concerning potential cooperation on major pipeline projects in Iran. The MoU, signed with the National Iranian Gas Company (NIGC), envisages discussions aimed at Saipem’s potential cooperation in NIGC pipeline projects - including IGAT9 and IGAT11 - which cover 1800km." (January 26, 2016). 

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In 2013 Saipem was removed from Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran after it was determined to have past involvement. 
 

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Saipem is a 43% owned subsidiary of Italian energy giant, Eni. (Saipem Website, "History")

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Saipem maintains a branch office in Tehran. (Company Wesbite)

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In 2012, Saipem was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of oil-related investment of US $20 million since 1996.
 

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"The oil rigs currently operating in Iranian waters mostly work for Iranian state-owned companies. The rigs are owned by a variety of foreign firms, including Norway's Sinvest, London-based Foresight Group, China Oilfield Service, Japan Drilling and Saipem, a subsidiary of Italian oil giant ENI. Industry sources said they would probably be certified by either Lloyd's or Bureau Veritas. BV did not respond to inquiries." (The Washington Post, "Congress sees shipping-certification firms as tool to tighten Iran noose," 12/5/2011)