More Deals for Saipem

After announcing $800 million of pipeline work in Mexico and Australia Thursday, Friday saw oil sector services firm Saipem report $500 million of onshore drilling contracts.

The Italy-based company said it had been awarded the contracts for drilling work in Saudi Arabia, South American and Kazakhstan. The deals mean that 13 rigs will be used and three of these will be purpose built.

In Saudi Arabia, Saipem has signed contracts with Saudi Aramco for the charter of several rigs, including rigs already operational within the kingdom. The contracts are for three-year terms and will begin at different times during 2013.

In South America, the company has been awarded contracts for two rigs for periods of one and two years respectively, while it has won one contract in Kazakhstan for the charter of a further rig for a period of eight months. All these contracts will begin before the end of 2012.


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