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April 6, 2022

Saipem secures two offshore drilling contracts worth $400m

The five-year contracts in the Middle East are for two jack-up drilling units.

Italian offshore services firm Saipem has received two contracts, worth more than $400m in total, for offshore drilling in the Middle East, and in West Africa.

Under the two contracts awarded, Saipem will deliver two high specification jack-up drilling units.

These include one Saipem jack-up unit, as well as one new high-specification jack-up unit that has been chartered from CIMC Group for the project.

The scope of these contracts includes drilling and workover operations for a period of five years.

Each of these contracts has the option to be extended for two additional years.

In a press statement, Saipem said: “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 [grow] in the offshore drilling market.”

Saipem also received a contract from Italian oil and gas company Eni for a drilling campaign, offshore West Africa.

Saipem said that the drilling campaign will be carried out using the Saipem 12000 ultra-deep-water drillship, staring in April 2022.

The contract has a six-month period and the option to extend it by an additional ten months.

Operations under this contract are scheduled to start this month, in continuity with previous activities.

Earlier this year, Saipem secured two contracts, worth $1.1bn in total, for the Scarborough and Yellowtail fields, offshore Australia and Guyana, respectively.

In Australia, Saipem was selected to complete the export trunkline coating, and install pipelines to connect the Scarborough offshore field with the onshore plant.

Saipem was also selected by Esso Exploration and Production Guyana to undertake the engineering, procurement, construction, and installation of the subsea umbilicals, risers, and flowlines for the Yellowtail project, offshore Guyana.

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