Italy's Saipem bags $100m offshore contracts in Middle East, Norway
EPC contracting giant says Middle East project work to begin under three-year contract in Q4 2019
The first contract was signed for the drilling of well in Norway with Repsol Norge, with work set to begin in in the third quarter of 2019.
Acccording to a statement from the Milan Stock Exchange-listed firm, Saipem will use the sixth-generation semi-submersible rig Scarabeo 8, which is suitable for operations in harsh environments.
Saipem has also won a three-year contract in the Middle East, for which the contractor will commence work in Q4 2019.
In the first quarter of 2019, Saipem bagged new contracts worth $2.9bn, three times higher than the $1.1bn of new orders it secured in Q1 2018.