Saipem has been awarded $240mln-worth onshore drilling contracts

A view from Saipem's Tanger Med 2 project in Morocco

A view from Saipem’s Tanger Med 2 project in Morocco

Saipem has been awarded new contracts and the extension of pre-existing agreements in the onshore drilling sector in Saudi Arabia, Morocco, Bolivia and Argentina for a total value of $240 million.
In the Middle East, the company got a three-year extension to activities relating to 6 medium-sized onshore drilling rigs already operating in Saudi Arabia. This is in addition to extensions of equal duration announced in September 2016 in relation to 10 rigs.
In Morocco, close on the heels of business already acquired in that country, Saipem extended a pre-existing contract for the supply of onshore drilling and workover services using a medium-sized rig that will operate in the north of the country near the Algerian border.
In Latin America, the Company has acquired a new eight-month contract in Argentina for a second hydraulic rig in addition to the one announced on 22 September last year, and a medium-sized rig one-year contract in Bolivia.