Saipem keeping seventh-gen drillship longer in its rig fleet

December 29, 2025, by Melisa Cavcic

Italy’s engineering, drilling, and construction services giant Saipem has prolonged the stay of a chartered seventh-generation drillship in its rig fleet.

Deep Value Driller drillship; Source: Deep Value Driller

While disclosing the entry into an extension of the amended bareboat charter with Saipem, Deep Value Driller has confirmed a firm extension of 31 days until July 31, 2026, for the firm’s Deep Value Driller seventh-generation drillship.

The duo has also agreed to an extension of the purchase option to buy for the drillship until February 16, 2026. The acquisition price in the potential transaction will be $300 million, plus payment of the remaining hire for the initial period.

Saipem has an option to extend the amended bareboat charter with an additional 365 days from August 1, 2026, to July 31, 2027, which needs to be declared within February 16, 2026. If this extension is exercised, the charterer’s right to purchase the drillship will be prolonged until December 31, 2026.

Following a $400 million drilling assignment, the rig was picked to work for Eni at the Baleine oil and gas field offshore Ivory Coast in West Africa. The 2014-built Deep Value Driller GustoMSC P10000 drillship is capable of operating in water depths of up to 10,000 feet (3.05 kilometers).

With a maximum drilling depth of 40,000 feet (12.19 kilometers), the mobile offshore drilling unit (MODU) can accommodate 210 people.