Saipem wins £130m contract double in Abu Dhabi and Romania

Italian oil and gas contractor Saipem has announced two deals totalling almost £130 million for offshore drilling work in Romania and Abu Dhabi.

The deal in Romania will see the firm drill a well in the country’s Black Sea waters in the fourth quarter of 2019.

The work will be carried out by the semi-submersible Scarabeo 9 drilling rig.

The contract in Abu Dhabi is also for offshore work in the United Arab Emirates and will utilise the Perro Negro jack-up rig.

Both deals total more than £128m.

Work on both contracts will last four years.

In April, Saipem announced bumper revenues for the first quarter of 2019.

The Milan-headquartered firm reported Q1 revenues of £1.8bn, compared to £1.6bn for the same period last year.

Saipem also saw a significant increase in new deals of £2.1bn for the beginning of 2019, a jump from £864m in Q1 2018.

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