Saipem, the Italian engineering and drilling services giant, is enhancing its presence in the Mediterranean and West African markets by signing two new offshore drilling contracts with Eni. These contracts include the use of a fifth-generation ultra-deepwater drilling rig in the Mediterranean and a sixth-generation semi-submersible floating rig in West Africa.
Contract Details
The total value of these two new offshore drilling contracts is estimated at approximately 121 million dollars, which will help increase Saipem's fleet productivity in 2026 and 2027. The first contract, awarded to Saipem by Eni Cyprus, pertains to offshore drilling activities in the exclusive economic zone of the Republic of Cyprus and will utilize the Saipem 10000 drilling rig.
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The drilling operations are expected to commence between November 2026 and January 2027 in the eastern Mediterranean. This rig is capable of drilling to a depth of 10,000 feet with the ability to drill up to 30,000 feet. The waters of the eastern Mediterranean have been recognized as an important natural gas front, and Cyprus has gained attention in recent years due to major gas discoveries such as Kronos, Calypso, and Glaucus.
Development of Drilling Activities in West Africa
Saipem's second mission, secured with Eni Ghana (Eni Ghana Exploration & Production), involves the use of the Scarabeo 9 drilling rig for offshore drilling activities off the coast of Ghana. This rig is designed for harsh conditions and is capable of operating in water depths of up to 12,000 feet, equipped with a high-efficiency dual RamRig system that allows for parallel management of strings and accelerates well construction times.
Ghana has mature and still-active hydrocarbon basins with significant producing assets such as the Sankofa Gye Nyame field, operated by Eni. Ghana is one of Saipem's primary destinations for drilling development, aiming to optimize production and reservoir management off the coast of West Africa and other parts of the world.
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