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Saipem, new orders worth 500 million in Angola and Saudi Arabia

Total E&P Angola has extended the charter of the offshore drilling vessel Saipem 12000 for two years – As for drilling in Arabian waters, the works of the Eni group plant engineering company will begin by the end of the year – On land, other contracts for 14 rigs in Algeria , South America and Ukraine.

Saipem, new orders worth 500 million in Angola and Saudi Arabia

Good news from Africa and the Middle East for Saipem, which has brought home new contracts for a total value of over 500 million dollars. In Angola, the plant engineering company of the Eni group has had the lease of the offshore drilling vessel Saipem 12000 extended for two years by Total E&P Angola. An extension that will take effect from August 2015.

The second order "provides for the start of drilling activities in the waters of Saudi Arabia - reads a statement from the company - in the second half of 2011, in continuation of the current contract". In this case, the contract was signed with Saudi Aramco and provides for the charter of the Perro Negro 7 jack-up.

As for onshore drilling, Saipem has signed contracts with various customers for 14 rigs in Algeria, South America and Ukraine. These are agreements with a duration of between two months and three years. The first works will be started by the end of the year.

Despite this good news, around 15 pm in Piazza Affari, the company's stock lost more than 30%. 

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