Saipem Wins US $155 Million Worth of Drilling Contracts

Saipem, an Eni company, has been awarded two new drilling contracts for a total value of US $155 million.

Burullus Gas Company-Egypt has awarded Saipem an eighteen months contract for the semisubmersible rig Scarabeo 6 for drilling operations offshore Egypt. The contract has commenced in December 2003.

Saipem has renewed a contract with Saudi Aramco for the charter of six land rigs for a period of three years in Saudi Arabia. The new contract is scheduled to start in continuation of the current contract on the second quarter 2004.