The companies have signed a memorandum of understanding to jointly develop and pursue business opportunities in the field of designing, engineering, building and managing deep-sea mining systems to be deployed on seefloors deeper than 3,000 metres.
The partnership is to exploit minerals, mostly sulphides, cobalt crusts and polymetallic nodules, which are essential to the modern digital economy.
Saipem chief executive Stefano Cao said: "Saipem boasts innovative technologies, distinctive skills, assets and an outstanding track record in the sector that will be put to use in the joint project with Fincantieri with the aim of finding environmentally compatible solutions so that sea beds can be used sustainably."
Saipem provides engineering, construction and drilling services to on- and offshore oil projects in 70 countries worldwide with approximately 34,000 employees. Fincantieri has 20,000 staff and operates 18 shipyards in four continents, serving civilian and military clients.
