The contracts put together have a value of $230m.

For offshore Mozambique projects, Saipem has been given a 15-month contract of drilling using its Saipem 1200 drillship. The contract begins from mid-2019 and comes with options to stretch it up to a maximum of 45 months.

Apart from the contract, as per the terms, Eni will allow Saipem to take part in the development of the Coral gas field.

Saipem’s other offshore drilling contracts are in the Mediterranean and the Black Sea where it will work on activities related to Eni’s acquisitions in the regions.

In Cyprus, Saipem has bagged a contract for the drilling of two offshore wells offshore in the Mediterranean Sea and the drilling will be undertaken in the fourth quarter of the year using the Saipem 12000.

Saipem stated: “These awards attest to Saipem’s consolidation in the area of the Mediterranean where the drillship Saipem 10000 is already active. They also reinforce the Company’s presence in a market of particular interest where important discoveries have recently been made.”

In another contract related to drilling in the Black Sea, Saipem will use its semi-submersible rig Scarabeo 9 for the drilling of a well along with another optional well.

In November 2016, Saipem was awarded new contracts and change orders worth about $1bn in the engineering and construction (E&C) offshore segment. A couple of them are engineering, procurement, installation, and construction (EPIC) contracts given by Saudi Aramco.