Saipem

Saipem has been awarded new contracts and the extension of pre-existing agreements in the onshore drilling sector in Saudi Arabia, Morocco, Bolivia and Argentina for a total value of $240mn. In the Middle East, Saipem boosts its presence with a further important three-year extension to activities related to six medium-sized onshore drilling rigs already operating in Saudi Arabia. This is in addition to extensions of equal duration announced in September 2016 in relation to ten rigs. Separately in KSA, Saipem has been awarded new contracts with an overall value of about $1bn, with two major deals awarded by Saudi Aramco. The most significant are the Aramco deals for two EPIC contracts under the long term agreement in force and renewed in 2015 until 2021 for activities in Saudi Arabia, Saipem said.