Offshore energy contractors, Italy’s Saipem SpA (<a href="https://www.borsaitaliana.it/borsa/azioni/scheda/IT0005495657.html?lang=en" target="_blank">BIT:SPM</a>) and Luxembourg-registered Subsea7 (<a href="https://live.euronext.com/en/product/equities/LU0075646355-XOSL" target="_blank">OSL:SUBC</a>), announced Sunday they have signed a memorandum of understanding to merge in a move intended to create a global leader in energy services.