Saipem nets $500M in drilling contracts

Saipem - Press Release
Tuesday, November 27, 2012

Saipem has won new onshore drilling contracts worth approximately $500 million, the company announced on 23 November 2012.

Saipem will utilize 13 rigs, three of which will be new purpose-built units, for work in Saudi Arabia, South America and Kazakhstan.

Saipem has signed three-year contracts with Saudi Aramco to commence at different periods in 2013. The contracts include rigs already operational in the Kingdom and the transfer of rigs from other areas, along with new purpose-built units. The contracts awarded represent a further consolidation of the relationship between Saipem and its key client Saudi Aramco, as well as Saipem's growing presence in the Kingdom.

Saipem has been also been awarded contracts for the utilization of two rigs in South America, for one and two years respectively, and one contract in Kazakhstan for the charter of a further rig for a period of eight months. These contracts are starting in the fourth quarter of 2012.

Categories: South America Middle East Drilling

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