Saipem Scores $400M Contract for Freshly Chartered 7th Gen. Deepwater Drillship

Italian oilfield services company Saipem said Wednesday it had secured a $400 million contract for the Deep Value Driller drillship in the Ivory Coast with the joint venture between Eni Côte d'Ivoire Ltd. and Petroci. The contract length was not disclosed.

To remind, Saipem last week agreed to charter the drillship from the Norwegian rig owner, Deep Value Driller AS, for $160 million on a period of approximately three years.

Announcing the $400 million contract in Ivory Coast, Saipem said the value "is to be considered gross of the leasing costs of the Deep Value Driller vessel that will be used for the operations."

Saipem said:"The contract includes the use of the seventh-generation drillship named Deep Value Driller, one of the most modern in the world, for which Saipem has entered into a charter agreement with the company Deep Value Driller. Saipem is thus strengthening the competitiveness of its fleet by leveraging its consolidated expertise in the selection and management of technologically advanced vessels," 

"The award of this contract represents an important consolidation of Saipem's presence in the Ivory Coast, a strategic area where the company is currently executing the project for the development of the oil and gas field Baleine. 

"Such field was discovered in the recent past thanks to the drilling activities of the Saipem 10000 and Saipem 12000 vessels," Saipem added.

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