Bareboat Charter: Deep Value Driller Hands Over 7th Gen. Drillship to Saipem

Drillship-owning firm Deep Value Driller AS has delivered its 7th generation drillship "Deep Value Driller" to Saipem under a bareboat charter deal signed earlier this year.

Saipem has chartered the drillship for an estimated firm period of three years. The charter adds approximately USD 160 million of firm revenue backlog to Deep Value Driller AS.

Saipem will have an option to extend the charter further.

The rig owner expects to be in a position to pay dividends from the year 2024, and will in due time resolve and disclose a dividend policy for the company.

Svend Anton Maier, CEO of the company, commented: "We are very pleased to have completed the reactivation project for the "Deep Value Driller" drillship and to have successfully delivered the drillship to Saipem. We expect the drillship to be a key contributor to Saipem and their customer's drilling activities in the years to come."

Saipem will deploy the drillship in Ivory Coast, under a $400 million contract with the joint venture between Eni and Petroci.

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