SerpApi.Org
Italian oilfield services company Saipem has secured a new offshore drilling contract valued at around $260m (€227.78m) from Eni Côte d’Ivoire.
The contract involves the deployment of the Santorini drill-ship to conduct development drilling operations off the coast of Côte d’Ivoire, with activities expected to start in early 2027.
According to the terms of the contract, the Santorini will be assigned to a long-term drilling programme.
The contract includes the possibility for the vessel to operate in neighbouring countries and covers additional optional periods, providing further opportunities for prolonged use.
It qualifies as a related party transaction since Eni Côte d’Ivoire is a subsidiary of Eni, which has stakes in several deepwater offshore blocks in Côte d'Ivoire. These include CI-101, CI-802 and the Baleine AEE, which are all tied to the Baleine project.
Saipem reported that the transaction falls within standard market conditions and is classified as “of greater importance” under Article 6 of the Consob Regulation on related party transactions.
However, it is excluded from certain disclosure requirements due to its nature as an ordinary transaction under existing guidelines.
The Santorini, built by Samsung Heavy Industries, is described as a seventh-generation drill-ship equipped with two seven-cavity blow out preventers, enabling it to work at water depths of up to 12,000ft.
According to Saipem, the vessel is fitted with advanced digital and automated technologies including NOVOS, a reflexive drilling system designed to automate repetitive activities and improve process consistency and safety.
Last month, Saipem began offshore operations at the GranMorgu project in Suriname following the arrival and mooring of the Normand Navigator construction vessel at Jules Sedney Harbour in Paramaribo.
The mobilisation marks the first phase of work on Suriname’s first large-scale offshore oil development in Block 58, around 150km offshore.
"Eni Côte d’Ivoire selects Saipem for $260m offshore drilling project" was originally created and published by Offshore Technology, a GlobalData owned brand.
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