Italian oil major Eni has awarded a two-year contract extension for Saipem’s 7th generation Santorini drillship.
Saipem said the contract extension, which would continue ongoing activity, would take effect from August 2023 and is worth approximately $280 million. To this amount will be added additional revenue tied to investments for asset improvements of approximately $15 million.
Santorini is a seventh-generation drillship acquired by Saipem in December 2022, capable of drilling activities at depths of up to 12,000 feet (more than 3,500 meters).
According to Saipem, the vessel is equipped with the latest digitization and automation solutions “which guarantee the highest standards of safety and respect for the environment which places it at the forefront of the technological offer for ultra-deep water projects”. The company noted that Santorini, whose construction was completed in 2021, is equipped with two seven-cavity Blow Out Preventors (BOPs), the highest standard for ultra-deepwater drilling vessels, automation systems of state-of-the-art operations and the latest solutions to optimize the environmental impact.
It is worth noting that Saipem leased the drillship, formerly called Ocean Rig Santorini, from Samsung in 2021, signing a two-year contract. It later exercised its call option and became the owner of the drillship, with a purchase price of $230 million.
The rig was initially commissioned by Ocean Rig, a drilling company acquired by Transocean. After Transocean took control of the Ocean Rig, it canceled the order for the Santorini and another rig called the Ocean Rig Crete.
As for Santorini, the drillship is currently working in the US Gulf of Mexico for Eni.
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