Saipem has won offshore drilling contracts totalling $800 million in the Middle East and West Africa that involve multiple jack-up rigs and an ultra-deepwater drillship.
The Italian company confirmed the awards on Tuesday and said that 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 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, Saipem said.
Both drilling projects in the Middle East are expected to begin during the second half of next year.
In addition, a third contract in the Middle East “encompasses the five-year extension for an existing contract for the high-specification jack-up unit Sea Lion 7”, Saipem said.
It noted the Sea Lion 7 is a “highly versatile self-elevating drilling unit” able to operate in water depths of up to 375 feet.
Saipem did not disclose the Middle East client or clients for these latest contracts.
West Africa deals
In the West Africa region, Saipem has won two contracts in the ultra-deepwater sector for its sixth-generation drillship Saipem 12000.
“The first contract has been awarded by Eni Cote d’Ivoire 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 for about six months,” Saipem said.
The second award is from Azule Energy for the drilling, completion and testing of development and exploration wells in Block 15/06 offshore Angola, which is also operated by Italy’s Eni.
“The contract will have the duration necessary to drill and complete 12 firm wells, estimated lasting 26 months, and include the possibility of extension for an optional term,” Saipem said.
The project in Angola “is scheduled to start in 2023 in continuity with the previous works of the rig in West Africa”.
Strategic deals
Saipem noted that the “long-term awards in the Middle East” confirm its strategy towards the offshore drilling segment of its business and the awards in West Africa “secure the continuity of operations”.
“With the contracts announced today, since the beginning of 2022 Saipem has been awarded new contracts in the offshore drilling segment for a total amount of about 1.6 billion euros [$1.66 billion] equivalent,” the company said.
Earlier this year, Saipem won $400 million-worth of offshore contracts in the Middle East and West Africa for several of its rigs, Upstream reported.
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