Saipem's 7th-gen Drillship Santorini Secures Two-year Extension with Eni

Credit: ©SHI
Credit: ©SHI

Italian oil company Eni has extended the contract for Saipem's 7th-generation Santorini drillship for two years, starting in August 2023.

According to Saipem, the extension is worth approximately 280 million dollars. 

"To this amount will be added additional income linked to investments for improvements to the asset for around 15 million," Saipem said,

The Santorini is a seventh-generation drillship acquired by Saipem in December 2022.m 

The Santorini drillship is capable of operating at water depths up to 12,000 feet (over 3,500 meters).

"The vessel is equipped with the latest digitalization and automation solutions, ensuring the highest standards of safety and respect for the environment which place it at the top of the technological offering for ultra-deepwater projects," Saipem said.

Saipem bought the 7th-generation Santorini drillship from Samsung Heavy Industries, citing rising dayrates and an optimistic offshore drilling rig demand forecast.

To remind, Saipem first chartered the drillship from Samsung in late 2021, signing a two-year contract, and then activated its purchase option and become the owner of the drillship, which was originally ordered by Ocean Rig, a drilling firm that Transocean purchased in 2018.

In September 2019, Transocean canceled the orders with Samsung for two newbuild drillships - the Ocean Rig Santorini and the Ocean Rig Crete - both ordered by Ocean Rig.  

The 228-meter-long drillship is now operating in the U.S. Gulf of Mexico for the Italian oil firm Eni. 

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