Saipem bags drilling contracts worth $800mn

Saipem has been awarded new offshore drilling contracts, three in the Middle East and two in West Africa, worth approximately $800mn, it said on November 15.

In the Middle East two new contracts have been awarded for two high-specification jack-up drilling units, the Perro Negro 12 and Perro Negro 13, chartered by third parties for drilling and workover activities on the specific projects. The duration of the operations will be five years plus two optional years for the first unit and three years plus one optional year for the second unit.

Both projects are scheduled to start between the third and fourth quarter of 2023. The third contract encompasses the five-year extension for an existing contract for the high-specification jack-up unit Sea Lion 7.

In West Africa, Saipem has been awarded two contracts in the ultra deep-water segment for drilling operations with the sixth-generation drillship Saipem 12000.

Eni has awarded the first contract for drilling operations offshore Ivory Coast, which are expected to start in the fourth quarter of 2022 and extend the current activities of the rig in the area of about six months.

Azule Energy has awarded the second contract for drilling, completion and testing of development and exploration wells offshore Angola in Block 15/06 operated by Eni Angola. The agreement will have the duration necessary to drill and complete 12 firm wells and include the possibility of an extension for an optional term.

The project is scheduled to start in 2023 in continuity with the previous works of the rig in West Africa.