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Saipem scores USD 500m in drilling contracts

26th November 2012

Saipem bags USD 500m for onshore drilling activities in Saudi Arabia, South America, Kazakhstan

Saipem scores USD 500m in drilling contracts
Saipem is a subsidiary of Italian energy company Eni, which owns a 43 per cent stake in the company

Italian drilling contractor Saipem will see thirteen of its rigs used in onshore drilling activities in Saudi Arabia, South America and Kazakhstan, it emerged on Friday, as part of contracts worth USD 500m.

Saipem signed three-year contracts with Saudi Arabia’s oil and gas major Saudi Aramco for the charter of rigs for onshore projects in the country. The contracts, which will commence during 2013, include rigs already operational in Saudi Arabia, Saipem said, and the transfer of rigs from other areas, along with new purpose-built units.

The Italian company has also been commissioned for the use of two rigs in South America, for one and two years respectively, and one contract in Kazakhstan for the charter of a further rig for a period of eight months. These contracts are starting in the fourth quarter of 2012, according to Saipem.

Saipem is currently carrying out drilling services in Europe, North and West Africa, Middle and Far East as well as the Americas. In addition, it has been contracted for designing and constructing several pipelines, including Blue Stream, Greenstream, Nord Stream and South Stream. It is a subsidiary of Italian energy company Eni, which owns a 43 per cent stake in the company.

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