September 11, 2015 – Saipem has been awarded new onshore drilling contracts in the Middle East and South America, for a total value of about $250 million. Two contracts were awarded by the Kuwait Oil Company as part of its ambitious development plans for the country’s oil resources. The contracts will last five years and there is an option to extend them for a further twelve months. For the Kuwait Oil Company, Saipem will supply two 3,000HP drilling rigs for deep-drilling operations in Kuwait. The contracts, following the recent result notification by the Kuwait National Petroleum Corporation for two packages of the Al-Zour refinery, are the first for Saipem in the Kuwaiti market in terms of onshore drilling. The partnership with the Kuwait Oil Company allows the Italian company to further consolidate its presence in the Middle Eastern market, by leveraging its significant experience in onshore drilling in desert environments. Saipem was also awarded additional contracts for onshore drilling in the oil and gas sector in South America, in Peru and Colombia, consolidating its presence in the region. (Red)
