Saipem inks new offshore drilling contracts in Middle East and West Africa

Source: press release, 5 April 2022

‘Saipem 12000’, a sixth-generation ultra-deep-water drillship
‘Saipem 12000’, a sixth-generation ultra-deep-water drillship (photo: Saipem)

Saipem has been awarded new contracts in Offshore Drilling in the Middle East and in West Africa for a total amount of over USD 400 million.

Two contracts have been awarded in the Middle East for two high specification jack-up drilling units, consisting of drilling and workover operations for a duration of 5 years. The start of operations is scheduled for the fourth quarter 2022. Each contract includes options for two additional years. These projects will involve one Saipem jack-up unit and a new high specification jack-up chartered from CIMC Group for the project.

With these additional awards in the Middle East, Saipem consolidates its presence in this strategic area, expanding the jack-up fleet from three to five units, with a view to growth in the offshore drilling market.

Furthermore, another contract has been assigned by Eni for a drilling campaign offshore West Africa, with operations expected to start in April 2022 in continuity with previous activities. The contract will be executed by Saipem 12000, a sixth-generation ultra-deep-water drillship. The contract duration is for 6 months plus optional periods for an additional 10 months.

Including the these contracts, from the beginning of 2022 Saipem has been awarded projects worth over a total amount of 750 million USD in the offshore drilling segment.