Saipem Wins Contract for Scarabeo 9 Newbuild

Saipem has been awarded an $860 million, five-year contract for the deepwater semisubmersible Scarabeo 9.

The contract, signed with Eni, is for drilling operations mainly in the Gulf of Mexico, and will start by the end of 2009.

The new rig is currently under construction at the Chinese yard, Yantai Raffles. Construction is expected to be completed during the fourth quarter of 2009.

Saipem bought the Scarabeo 9, previously named Frigstad Oslo, following the acquisition of almost the entire holding in Frigstad Discoverer Invest Limited.

Scarabeo 9, an innovative 6th generation drilling rig for ultra deepwater, will be capable of operating in water depths of up to 3,600 meters, in full dynamic positioning.

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