Saipem has secured contracts in the Middle East and in the Mediterranean Sea. Credit: Galen Crout on Unsplash.

Saipem has received two new offshore drilling contracts, worth in the region of $550m (€502.75m).

The contracts are for drilling work in the Middle East and in the Mediterranean Sea.

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In the Middle East, Saipem has been selected to continue the activity of the Perro Negro 7 jack-up drilling unit from the second half of 2023. The contract is a ten-year extension to the existing contract signed by Saipem at an earlier date.

Capable of operating in up to 375ft water depth and with the capacity to drill up to 30,000ft, the Perro Negro 7 jack-up rig features advanced equipment and complies with the most stringent regulations and highest environmental standards.

In a press statement, Saipem said: “The ten-year extension is a record duration in the area, which in the past had only been granted to an international contractor on limited occasions, and further strengthens Saipem’s strategic positioning in the drilling segment.”

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In the Mediterranean, Saipem has secured a contract from an undisclosed company for the deployment of a Scarabeo 9 semisubmersible unit.

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The contract, which has estimated period of about six months, includes an optional extension period.

The mobile offshore drilling unit features a dual ram rig and a dynamic positioning system. It is designed to operate in ultra-deep water up to 12,000ft.

“The acquisition of this contract confirms Saipem’s solid positioning in the Mediterranean drilling market, an area which has been characterised over the years by appreciable stability and is expected to be able to contribute to keeping fleet utilisation rates high,” Saipem said in a statement.

Recently, Saipem received approval from Norway-based DNV, an independent expert in assurance and risk management, for its system for subsea pipeline monitoring during laying operations.