Aker BP prolongs Saipem rig’s stay in Norway

July 30, 2025, by Dragana Nikše

Norwegian oil and gas player Aker BP has extended the contract for the assignment of a semi-submersible drilling rig owned by Italian energy giant Saipem offshore Norway.

Since Aker BP has activated the option for the extension period under the existing contract for Scarabeo 8, the rig will continue undertaking drilling activities in Norwegian waters until December 31, 2027.

The assignment will be in direct continuation of the previous one-year contract extension from last September. The original contract was awarded to the Italian giant in March 2022.

The sixth‑generation Scarabeo 8 is designed to operate in demanding offshore environments. It is equipped with a dynamic positioning system (DP) and an advanced mooring system and can accommodate 140 people. Its maximum drilling depth is 35,000 feet, or around 10,668 meters.

The rig has had some hits and misses over the past few months, encountering a dry well in the Rondeslottet prospect in the Norwegian Sea in June, but finding oil in the E prospect near the Skarv field in May.

It has been a busy week for Aker BP, which also struck a swap deal with JAPEX Norge. The transaction will see the Norwegian player give a 10% interest in its operated Alve Nord development and a 3.5% stake in the Verdande development to JAPEX, in exchange for the latter’s Northern North Sea portfolio and a cash consideration of $14 million.

North Sea swap deal expands Aker BP’s oil & gas portfolio

Business & Finance

Meanwhile, Saipem signed a binding agreement relating to the terms and conditions for its proposed merger with Subsea7. This follows a memorandum of understanding the duo inked in February.