Italy’s Saipem and Cyprus’ Hyperion Systems Engineering have joined forces to create Saipem-Hyperion Eastmed Engineering, 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, Saipem and Hyperion Systems Engineering said in a joint press release, adding that the new company will support clients to boost their business and achieve their energy transition goals providing smart, sustainable, and low environmental impact energy solutions.
Luca Brunetto, head of Business Development and Commercial Strategies of Saipem’s XSIGHT division, said 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 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,” Brunetto said.
For his part, Hyperion Group Chairman and CEO Symeon Kassianides said their 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,” he said.
Saipem-Hyperion Eastmed Engineering Interim CEO Stavros Spanos hailed the launch of Saipem-Hyperion Eastmed Engineering, adding, “We are already open for business and have started exploring specific initiatives”.