Saipem secures new contracts, including in Mozambique

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Saipem secures new contracts, including in Mozambique

12:05 CAT | 02 Jun 2017

Total value of new contracts for Saipem reaches $230 million. (Courtesy from Saipem)

Saipem and Eni have today signed a contract to use the firm’s Saipem 12000 drilling vessel for offshore drilling activity in Mozambique. The contract is for 15 months, commencing mid-2019, with optional extensions of up to 45 months.

In addition to this contract, which will allow Saipem to participate in the development of the Coral field, the group has been awarded other offshore drilling contracts in the Mediterranean and Black Seas, utilising cutting-edge vessels from the company’s fleet. The total value of these new contracts is US$230 million, Saipem announced in a press release yesterday.

Significantly, Eni has awarded Saipem a contract for the drilling of two wells off Cyprus in the Mediterranean. Work will once again be carried out by the Saipem 12000 and commence in the fourth quarter of 2017. The vessel will subsequently be deployed in Portuguese waters for operations previously announced in 2016 and postponed at the request of the client.

These awards attest to Saipem’s consolidation in the Mediterranean, where the drilling ship Saipem 10000 is already active. They also reinforce the company’s presence in a market where important discoveries have recently been made.

Finally, the semi-submersible rig Scarabeo 9 will be used to drill one well, plus an optional second, in the Black Sea. In service since 2011, the Scarabeo 9 is undergoing innovative upgrades, whose expenses are included in the contract and which will enable it to pass through the Bosphorus. This is a particularly important development in view of the interesting opportunities for offshore drilling in the Black Sea’s ultra-deep waters.

Saipem is one of the world leaders in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, both onshore and offshore, in the oil and gas market. The company is particularly competent in harsh environments, remote areas and deep water. Saipem provides a full range of services with EPC and EPCI contracts (on a “turn-key” basis) and has distinctive capabilities and unique assets with a high technological content.

Source: Saipem