Saipem awarded USD 170 million in contracts

Italy

SAN DONATO MILANESE, June 9, 2016 – Saipem has signed new contracts and extended old ones with a total value of EUR 150 million (USD 170 million), Saipem reported in a press release today.

Offshore contracts on drilling rigs have been awarded in South America, Saudi Arabia, Kazakhstan and Morocco. These contracts are to begin this year, and each is between two months and two years in length.

The company’s contract with Eni for their Scarabeo 8, a semi-submersible drilling rig, has been pushed forward to October 2017. The ultra-deepwater rig can operate in up to 3000 m of water.

Saipem will be working on several onshore drilling operations in South America, Saudi Arabia, Kazakhstan and Morocco. These contracts will also start in 2016.

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