Saipem Secures Drilling Contracts in Middle East, South America Worth $430M

Saipem has been awarded new contracts, and extensions to existing contracts, in the Middle East and South American onshore drilling sectors worth $430 million.

In Saudi Arabia, Saipem has been awarded an extension of three years to drilling activities being carried out by ten 2000 HP drilling rigs.

“In the light of the particularly challenging market conditions, this represents a strong signal of confidence in Saipem and recognition of the high quality of the services it offers,” said Saipem in a company statement.

In South America, in addition to various extensions ranging in duration from two to twenty-four months for medium and high power rigs in Peru, Colombia, Bolivia and Chile, Saipem has also been awarded a new contract for operations in Argentina, which will be carried out by a hydraulic type rig over a period of eighteen months. 



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