Saipem Announces New Offshore Drilling Contracts in UAE, Egypt and Ecuador

Saipem, an international company with strong bias towards oil and gas related activities, announces that it has been awarded new offshore drilling contracts.

The company has been awarded by NDC a contract for the charter of Perro Negro 3 for drilling activities offshore Abu Dhabi, for a period of 36 months starting from the first quarter of 2013.

In Ecuador, EP Petroecuador has awarded Saipem the contract for the charter of the jack-up Ocean Spur. Ocean Spur is a rig owned by Diamond Offshore Services Company, a wholly owned subsidiary of Diamond Offshore Drilling, Inc., which will be operated by Saipem for 18 months starting from the fourth quarter of 2012.

Perro Negro 3 and Ocean Spur are jack-up rigs capable of operating in water depths of up to 300 feet.

Furthermore, Saipem signed a contract with GDF SUEZ for the charter of Scarabeo 4 to be engaged in drilling activities offshore Egypt, for a period of 3 months during the third and fourth quarter of 2012. Scarabeo 4, which is currently under contract with IEOC, will be chartered by GDF SUEZ under a contract assignment.

Scarabeo 4 is a second generation semi-submersible drilling rig capable of operating in water depths of up to 1,500 feet.

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Source: Saipem, September 28, 2012