Eni Renews Contract with Saipem 10000 Drillship

Saipem has been awarded a contract with Eni for the Saipem 10000 drillship that is valued in excess of US $390 million.

Eni will use Saipem 10000 to perform worldwide drilling operations from the third quarter of 2009. The contract lasts 3 years and includes the 18-month extension that Eni has decided to exercise as part of the previous charter contract. The rig is currently working for Total offshore Angola.

Saipem 10000 is a state-of-the-art ultra deepwater drillship, capable of operating in water depths up to 3,000 meters in full dynamic positioning and drilling to depths of up to 10,000 meters.

Saipem (43% owned by Eni) is a leader in the provision of Engineering, Procurement, Project Management and Construction services for the Oil & Gas Industry, with unique capabilities in designing and executing large scale offshore and onshore projects. Saipem has a strong bias for operating in deepwater and remote areas. It has significant technological competence in gas monetization and heavy oil exploration.

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