The aim is to "increase joint competitiveness" in Italy and the Mediterranean region.

An agreement was signed by Technip Italy CEO Marco Villa and Giuseppe Bono, CEO of Fincantieri.

The two groups are already collaborating on bidding for the construction of a platform to be located off Sicily.

"This would represent an important opportunity for employment development in Sicily, where the joint team plans to build the platform’s topside," Fincantieri said.

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