Saipem awarded US$540 million contracts

Saipem was awarded offshore drilling contracts worth approximately US$540 million in Indonesia, Nigeria, the Arabian Gulf and Latin America.

The contracts refer to four different units of Saipem’s fleet.

Indonesia contract

Eni Muara Bakau B.V. awarded Saipem a for use of the Scarabeo 7, a semisubmersible drilling rig, which will be operating offshore Indonesia, drilling a minimum of 12 wells. The project is estimated to be completed in 1Q 2017 and the vessel will remain under contract with Eni until February 2018.

Scarabeo 7 is a fifth generation semisubmersible drilling rig capable of operating in water depths of up to 5000ft.

Nigeria

In West Africa, the contract for the Scarabeo 3 has been extended to March 2015. Scarabeo 3 is a second generation semisubmersible drilling rig, with capacity to operate in water depths of up to 1500ft.

Ararbian Gulf

NDC extended the contract for the jackup rig, Perro Negro 2, for 24 months beginning in January 2015 for activities in the Arabian Gulf. The Perro Negro 2 has the capacity to operate in water depths of up to 300ft.

Latin America

In Ecuador, EP Petroamazonas extended the contract for the charter of the jackup rig Ocean Spur by 10 months, until the end of 1Q 2015. The Saipem operated vessel is capable to operate in water depths of up to 300 feet.

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