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Saipem wins new drilling contracts worth US$1.7 bln

Dec 29, 2019
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Italy’s Saipem has been awarded new drilling contracts and extensions on existing contracts for onshore and offshore for a cost of US$1.7 billion.

The contracts related to the onshore drilling division encompass 19 land-rigs located in Middle East, with power between 1500 and 2000 HP, and their duration range from three up to ten years. In addition, new contracts and extensions on other existing contracts have been assigned for new works that will be executed in Bolivia, Perù and Romania.

The contracts related to the offshore drilling division concern activities to be executed in Norway and in Angola.

Stefano Cao, CEO of Saipem, commented: “The award of these contracts proves the solidity and reliability of the operational performance of our Drilling Divisions and further strengthens Saipem’s long-time presence in strategic areas of the world”.