Saipem nets over $100 million in new offshore drilling contracts

Italian contractor Saipem has been awarded new contracts in offshore drilling in Norway and the Middle East totaling over $100 million.

Saipem said on Monday that one contract was signed with Repsol Norge for the drilling of a well in Norway, which is expected to start in the third quarter of 2019.

Works will be executed by the sixth-generation semi-submersible rig Scarabeo 8, a drilling unit capable of operations in harsh environments.

According to Bassoe Offshore, the estimated dayrate for the Scarabeo 8 under the contract with Repsol is around $295,000.

Furthermore, Saipem has been awarded a new three-year contract in the Middle East. Operations are expected to begin in the fourth quarter of 2019 and involve the use of a high spec jack-up. For this project, a vessel operated by Saipem will be utilized.

“With these contracts Saipem strengthens and confirms its presence in key geographical areas such as Norway and the Middle East,” the company said.

In related news, as reported earlier on Monday, Vår Energi has received consent from the Norwegian Petroleum Safety Authority to use the Saipem-owned Scarabeo 8 drilling rig for operations on the Marulk field offshore Norway.

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