Saipem’s Ancient Scarabeo 3 Keeps on Truckin’ with New Contract Extension, Day Rates Increase

The Scarabeo 3 semi-submersible was built in 1975 by Blohm and Voss Shipyard in Germany, designed by Friede and Goldman.  It’s one of the oldest offshore drilling rigs still in operation.

MILAN– Saipem announced today that they have been awarded new offshore and onshore drilling contracts worth approximately $500 million.

In the Adriatic Sea, Saipem’s Perro Negro 8 jack-up was given a two year contract extension by Eni starting in November 2012.

In Nigeria, Addax Petroleum has extended the charter contract for Saipem’s 2nd generation semi-submersible rig Scarabeo 3, until February 2014.

Furthermore, Saipem signed an 18 month extension of its contract with NDC for the charter of the jack-up Perro Negro 2, which is engaged in drilling activities offshore Abu Dhabi. The extension of the contract starts from the second quarter of 2012.

Perro Negro 2 is a jack-up rig capable of operating in water depths of up to 300 feet.

In addition, Saipem has obtained an increase in rates of existing contracts for the charter of Perro Negro 6 and Saipem 10000, respectively, offshore Angola and Mozambique.

In onshore drilling, Saipem has been awarded by several clients contracts for 14 rigs in South America, Saudi Arabia, Kazakhstan and Italy.

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