Italian EPC giant Saipem has decided to purchase the Santorini ultra-deepwater drillship from South Korea’s Samsung Heavy Industries to strengthen its offshore drilling fleet amid growing demand for oil and gas, the company said on Monday.
In June 2021, Saipem entered into a two-year contract with the South Korean shipyard, which included an option to buy the Santorini drillship. This option was to be used at the Italian giant’s discretion depending on the trend of demand. The drillship was delivered to Saipem by Samsung Heavy Industries in November 2021.
Saipem said in a press release on Monday that its purchase option concerning the seventh-generation Santorini drillship, which is already operating within the firm’s fleet, has been exercised. The company is expected to pay $230 million for this drillship by the end of 2022. The firm intends to finance this investment entirely from available cash.
