Global and Regional MarketsNewsThe Offshore Frontier

Saipem awarded three-year contract from Aker BP for work offshore Norway

Saipem has been awarded a contract by Aker BP for a drilling campaign offshore Norway. The operations are expected to start from the end of Q4 2022, upon termination of the works in which the Scarabeo 8 harsh-environment semisubmersible is currently engaged.

Scarabeo 8 is a dual derrick deep water unit with a dynamic positioning system and with enhanced mooring capabilities. The contract duration is three years for an approximate value of $325 million. The contract also includes the option of two one-year extensions and encompasses potential upsides among which aperformance bonus scheme and a mechanism of rate adjustment to market rates from the third year onward.

Saipem previously worked successfully with Aker BP in 2018. This new long-term contract further consolidates the collaboration with the Norwegian company, also including the use of innovative solutions to deliver increasingly efficient, safe and environmentally focused operations.

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