Saipem agrees to acquire Deep Value Driller drillship

Saipem reached an agreement on the principal terms and conditions to acquire the Deep Value Driller ultra-deepwater drillship from Deep Value Driller. The deal paves the way for Saipem to add the seventh-generation mobile offshore drilling unit to its fleet as its current charter arrangement nears expiration.

Under the agreed terms, Saipem will purchase the vessel for roughly $272.5 million in cash, subject to customary closing conditions and board approvals. Completion is expected on or before the expiration of the existing bareboat charter on 31 July 2026, with hire continuing under the current charter until then.

The Deep Value Driller drillship, built in 2014 and currently operating in Indonesia under charter, is a seventh-generation ultra-deepwater mobile drilling unit managed by Saipem that can operate in deepwater environments and support a wide range of offshore well activities.