Saipem awarded over $200m worth of offshore drilling contracts

Saipem awarded over $200m worth of offshore drilling contracts

Italy’s Saipem has been awarded new offshore drilling contracts in Norway and the Middle East totalling over $200m, the Milan-based company has announced.

One contract was signed with German company Wintershall for the drilling of two wells plus two optional ones in continuity with previous engagements for operations offshore Norway. The contract will be executed by the sixth-generation semi-submersible rig Scarabeo 8, a drilling unit capable of operations in harsh environments. The rig is expected to be under operation until approximately the second quarter of 2020.

Saipem has also been awarded another contract in the Middle East which involves a four-year extension of the use of high spec jackup Perro Negro 7, a self-elevating drilling unit capable of operating in water depths of up to 375 feet. Work commenced at the end of the first quarter of 2019.

Earlier this weekk, reports emerged that Saipem is in talks to sell its drilling business and among the potential buyers are companies such as Helmerich and Payne, Patterson-Uti and Pioneer Energy Services.

Nicola Capuzzo

Nicola is a highly qualified journalist focused on transport economics, logistics and shipping with broad experience in both online and printed media. Specialties: shipping, ship finance, banking, commodities and port economics. He regularly interviews Europe's top shipowner executives for Maritime CEO magazine.

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