Eni contracts Saipem’s Santorini drillship for two more years at US$280 million

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Saipem said it has been awarded a two-year contract extension by Eni S.p.A. for the use of the Santorini drillship in the Gulf of Mexico. The contract extension, which will give continuity to ongoing activity, will come into force starting from August 2023 and is worth approximately US$280 million. 

To this amount will be added additional income linked to investments for improvements to the asset for around US$15 million.

The Santorini is a seventh-generation drillship acquired by Saipem in December 2022. The purchase was an option exercised by Saipem under a long-term charter agreement signed with Samsung Heavy in 2021 shortly after the vessel was constructed. 

It is capable of performing drilling activities at depths of up to 12,000 feet (over 3,500 metres). The vessel is equipped with the latest digitalisation and automation solutions, ensuring the highest standards of safety and respect for the environment which place it at the top of the technological offering for ultra-deepwater projects.

With this acquisition, Saipem said it confirmed its competitive positioning in the ultra-deepwater drilling sector.

Saipem is a key sub-contractor for ExxonMobil’s Guyana operations and was most recently charged with the delivery of a major subsea system for the Yellowtail project.

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