Offshore Drilling Work Worth $170m Won By Saipem

Published at 01:41PM - 09/06/16

The Italian oil and gas contractor Saipem announced it has been awarded new drilling contracts and extensions to existing contracts with a cumulative value of approximately $170 million (£117.8 million).

The contracts are located in Portugal, Norway, Morocco, Saudi Arabia, Kazakhstan and Latin America, the company informed in a statement.

“The contracts will start during 2016 and have terms that vary from two months to two years,” the company stated.

Offshore Drilling Work Worth $170m Won By Saipem

In Portugal, the company was awarded a contract for the utilisation of the Saipem 12000, by Eni Portugal.

The facility is set to operate offshore Portugal during the third quarter of 2015 and consists on a sixth-generation ultra-deep water drilling ship capable of operating in water depths of over 3,000 metres.

In Norway, Saipem was awarded a contract by Eni Norge for the Scarabeo 8 drilling rig, also a sixth-generation semi-submersible drilling rig, but designed to operate in ultra-deep waters of up to 3,000 metres.

Under this agreement, Saipem sees its contract with Eni Norge extended up to October 2017.

Saipem was also awarded a number of other contracts related to land drilling rigs offshore in South America, Saudi Arabia, Kazakhstan and Morocco.

£144.17m Construction Contract For PetroRabigh

Also in Saudi Arabia, the Italian oil service group was awarded a separate contract for PetroRabigh’s Rabigh II expansion project.

The 30-month contract was valued at £144.17 million and was originally due for completion in December 2015, but suffered a nine-month delay.

The contract includes a plant to process and recover vanadium as well as a unit to dispose of caustic soda besides other facilities to handle and store chemicals, PetroRabigh informed in a statement.

The Rabigh II expansion project includes the expansion of an existing methane cracker and a new aromatics complex to make higher-value petrochemical products.


Last updated on 05:19PM - 10/06/16