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Saipem Awarded New Offshore Drilling Contracts in Egypt & Congo

Source: www.oilegypt.com 12/1/2006, Location: Africa

Saipem has been awarded three new offshore drilling contracts, one in Egypt and two in Congo, for a total value of USD 380 million. The Egyptian contract has been assigned to Saipem by the Burullus Gas Company and its shareholders BG Group, Petronas and the Egyptian Natural Gas Holding Company (EGAS). The contract will last two years and involves the charter of the semi-submersible drilling rig Scarabeo 6.

Drilling operations will be executed off the coast of Egypt between the third quarter of 2007 and the third quarter of 2009. Scarabeo 6 is a third generation semi-submersible rig capable of operating in water depths of up to 780 meters and of drilling to depths of up to 7,500 meters.

For a period of five years, beginning in the fourth quarter of 2007, Eni Congo will charter a tender assisted drilling unit to carry out operations off the coast of Congo. Separately, Eni Congo has contracted Saipem for work-over1 activities, to be executed using equipments owned by the client. The contract starts from the fourth quarter of 2006, and will last for three years.

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

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