Saipem: New Offshore Drilling Contracts Worth Approximately USD 121 Million
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Saipem has been awarded two new offshore drilling contracts worth approximately $ 121 million, further strengthening visibility into its fleet utilization for 2026 and 2027. The first contract concerns offshore drilling off Cyprus, while the second covers drilling offshore Ghana. Subsidiaries of the same energy major were awarded both.
Details of the Contracts
Saipem has won two contracts. These cover offshore drilling. Their combined value is substantial. It nears 121 million dollars. They strengthen fleet visibility.
The contracts span two regions. One is off Cyprus. The other is off Ghana. One client awarded both. These are its subsidiaries.
The First Contract
The first contract is off Cyprus. It covers drilling activities. These sit in the economic zone. A drillship will perform them. It is a named vessel.
The contract has a timeline. Operations begin soon. This spans late 2026. It extends into early 2027. It is defined.
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The Second Contract
The second contract is off Ghana. It covers drilling activities. It features a semi-submersible rig. It is a named vessel. It performs the work.
The contract supports the region. It uses an owned rig. It adds to the backlog. It deepens the client relationship. It extends operations.
Significance of the Contracts
The contracts strengthen visibility. They support fleet utilization. This covers 2026. It extends to 2027. It improves the outlook.
The company is a global leader. It spans several business lines. It operates a large fleet. It works in many countries. These contracts reinforce its position.
Source: Saipem
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This article was contributed by an external writer affiliated with our publication.
