Oil & Gas

Saipem awarded new onshore drilling contracts worth approximately USD 220mn

On March 13, Saipem has been new awarded new contracts, and extensions to other already existing contracts, in Onshore Drilling worth approximately 220 million USD in total.

The new contracts involve projects to be carried out in Bolivia and Saudi Arabia, while the extensions of contracts already underway concern Saudi Arabia, Peru, Morocco and Romania.

“The awarding of these new contracts in South America and the Middle East rewards our efforts to optimise operations and confirms the strategy of the Onshore Drilling division to consolidate our presence in important geographical areas such as the Middle East and South America and expand our client base,” Francesco Racheli, Chief Operating Officer of Onshore Drilling, commented.

 

About Saipem

Saipem is a leading company in engineering, drilling and construction of major projects in the energy and infrastructure sectors. It is ‘One-Company’ organized in five business divisions (Offshore E&C, Onshore E&C, Offshore Drilling, Onshore Drilling and XSight, dedicated to conceptual design).

Saipem is a global solution provider with distinctive skills and competences and high-tech assets, which it uses to identify solutions aimed at satisfying customer requirements. It is present in over 60 countries worldwide and has 32 thousand employees of 120 different nationalities.

Saipem was originally founded in 1957 as a service provider for the Eni group, through the merger of Snam Montaggi and a drilling contractor SAIP. In 1960s it started providing services outside the Eni group, and in 1969 it started operating autonomously. While initially Saipem specialized on onshore pipelaying, plant construction and drilling, in the early 1960s it commenced also offshore operations. Offshore operations started in the Mediterranean and were expanded to the North Sea in 1972.

Since 1984, Saipem is listed at the Milan Stock Exchange. In 2001, Saipem started a number of acquisitions, culminating in the acquisition of Bouygues Offshore in 2002. Responding to the recent industry trend towards large onshore EPC and EPCI projects, including those related to gas monetisation, exploitation of difficult oil (heavy oil, oil sands, etc.), and in order to strengthen its position in the Middle East and its national oil company client base, in 2006 Saipem has acquired and in 2008 has incorporated Snamprogetti.

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