Saipem scoops $830 million of drilling contracts

Eni SPA, Addax Petroleum Corp., and Burullus Gas Co. separately contracted Saipem SPA for offshore drilling in West Africa and Egypt in deals with a total value of $830 million.

Uchenna Izundu
International Editor

LONDON, Sept. 25 -- Eni SPA, Addax Petroleum Corp., and Burullus Gas Co. separately contracted Saipem SPA for offshore drilling in West Africa and Egypt in deals with a total value of $830 million.

For 3 years starting in 2011, Eni will drill off West Africa using Saipem's Scarabeo 7 rig, a fourth-generation semisubmersible rig capable of operating in water 1,500 m deep and drilling to depths of 8,500 m.

The Scarabeo 3 is under an extended charter to Addax Petroleum for 2 years, working off Nigeria. It is a second-generation semisubmersible rig capable of operating in water 500 m deep and drilling to depths of 8,000 m.

Burullus Gas Co. will charter the Scarabeo 6 semisubmersible rig in Egypt for 1 year, starting from the first quarter of 2010. It is a third-generation semisubmersible rig capable of operating in water f 780 m deep and drilling to 7,500 m depths.

Contact Uchenna Izundu at uchennai@pennwell.com

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