Saipem Awarded New Onshore Drilling Contracts

Saipem has been awarded 13 new contracts for the charter of onshore drilling rigs worth an estimated total of US $280 million.

Drilling will take place in Saudi Arabia, Kazakhstan, Algeria, Egypt, Peru and Venezuela, for periods ranging between 4 months and 5 years, depending on the terms of each contract.

Saipem currently operates a fleet of more than 40 onshore drilling and workover rigs in Saudi Arabia, North Africa, Caspian, Latin America and Italy. An estimated half of these have the capability to drill to a depth of more than 6,000 meters.

These contracts allow Saipem to further consolidate its position in those areas where it has a long-standing presence in its onshore and offshore construction business, taking advantage of synergies and leveraging local content.

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 exploitation.