Saipem has signed an agreement with Deep Value Driller AS (DVD) on the principal terms for the acquisition of the Deep Value Driller, a seventh-generation mobile offshore drilling unit, for a purchase price of $272.5m (€230.43m) in cash.
The vessel is currently under a bareboat charter arrangement between Saipem (Portugal) Comércio Marítimo, Sociedade Unipessoal, a subsidiary of Saipem, and DVD.
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The charter is scheduled to conclude on 31 July 2026, with the unit presently operating in Indonesia.
DVD said that after reviewing the available options and recognising that Saipem would not exercise the purchase option on the original terms, it entered into an agreement with the Italian company. Furthermore, DVD said that its Board of Directors believes the agreement delivers the most favourable outcome for the company’s shareholders.
Finalisation of the transaction requires approval from the Boards of Directors of both Saipem and DVD. Saipem expects to complete the purchase by the end of the existing bareboat charter term.
Saipem stated that the acquisition aligns with its strategy to enhance its offshore drilling fleet while keeping a disciplined approach to capital allocation.
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By GlobalDataIn December 2025, Saipem secured two offshore contracts in Saudi Arabia totalling approximately $600m under its ongoing long-term agreement with Aramco, issued through contract release purchase orders (CRPOs).
The first contract, CRPO 162, covers a 32-month period and includes the engineering, procurement, construction and installation of around 34km of 20in and 30in-diameter pipeline.
In October 2025, Saipem obtained additional offshore drilling contracts and extensions valued at up to $135m, expanding its presence in West Africa, the Mediterranean and the Far East.
The Santorini drill-ship continued operations in Ghana and Côte d’Ivoire for Eni Ghana Exploration & Production and Eni Côte d’Ivoire. The vessel maintained its activities before moving on to its next drilling assignment in the Mediterranean.
