Saipem wins new $100mn contract in Norway, Middle East

Contracts awarded for offshore drilling with the Middle East operations beginning in Q4 2019

Italian contractor Saipem has been awarded new contracts worth $100 million in Norway and the Middle East for offshore drilling.

Saipem’s contract in Norway is with Repsol Norge for the drilling of a well, which is expected to start in Q3 2019. According to a statement, the company will use the sixth-generation semi-submersible rig Scarabeo 8 for the work. As per reports from rig advisory firm, Bassoe Offshore, under the terms of the contract with Repsol, the estimated day-rate for the Scarabeo 8 is around $295,000.

Furthermore, Saipem’s contract in Middle East is for a three year time-period. Operations are expected to start in Q4 2019 and involve the use of a high spec jack-up. For this project, a vessel operated by Saipem will be utilised.

The EPC contractor also stated that with these projects it can strengthen and confirm its presence in strategic markets and key geographical areas. In related news, Saipem had announced that it had won contracts worth over $200 million, last month for offshore drilling in the Norway and the Middle East.


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