Saipem has won new contracts worth around $190m from different companies for carrying out offshore drilling and offshore engineering and construction (E&C).
The offshore drilling contracts involve deployment of its semi-submersible rig Scarabeo 8 to carry out drilling for about 10 months in offshore Norway.
The first contract received by the Italian oil and gas industry contractor is from Norske Shell to drill an option well using the sixth-generation semi-submersible rig. The option well is part of a previously assigned contract that was announced in December 2017.
Saipem’s second contract has been given by Total E&P Norge under which it will drill a well in direct continuity with the completion of the operations carried out for Norske Shell.
The Italian contractor has won an additional contract from Aker BP for the drilling of four wells, with an option of two more wells. Saipem expects operations to begin within the fourth quarter of this year, once Scarabeo 8 completes its operations for Total E&P Norge.
The company has won two contracts in the offshore engineering and construction sector. The first is from ConocoPhillips for decommissioning a project in the UK North Sea.
Saipem has also bagged a contract from Al Khafji Joint Operations (KJO) for carrying out engineering, construction, offshore installation and commissioning of a new crude transmission line in the Arabian Gulf. KJO is made up of Aramco Gulf Operations (AGOC) and Kuwait Gulf Oil (K.S.C) (KGOC).
Saipem CEO Stefano Cao said: “The new contracts in offshore drilling confirm the strategy of the company in this segment, aimed at consolidating relationships, including with new customers, while awaiting a further recovery of this market.
“Moreover, through the new awards in offshore E&C, Saipem is further reinforcing its presence and solid expertise in a strategic businesses such as decommissioning”.
Last month, Saipem had acquired a 3,000 ton ultra deepwater rigid and flexible pipelay, heavy lift and construction vessel Lewek Constellation for $275m.