Saipem, which is a division of the Italian oil concern Eni, it specialises in the manufacture of oil field equipment as well as nonproduction services. The group plans to get a controling stake in the French company Bouygues Offshore. For 51,1% of shares Italians offer billion euro, that exceeds their market cost by twenty five percents and, according to news agencies, the company will aspires to buy all of the equity avialnle in the group. Bouygues Offshore is engaged in construction works on sea crafts. Both companies negotiated for a merger in the beginning of 2001. If the merger goes ahead then new service firm will be the second-largest in Europe after Technip-Coflexip in this sector .