Italian company Saipem announced an extension of their Romanian drilling contracts, as part of overall new contracts worth an overall 1.7 billion USD.

Saipem has been awarded new contracts and extensions on existing contracts in Onshore Drilling and Offshore Drilling for an overall amount of approximately 1.7 billion USD.

The contracts related to the Onshore Drilling Division encompass 19 land-rigs located in Middle East, with power between 1,500 and 2,000 HP, and their duration range from three up to ten years. In addition, new contracts and extensions on other existing contracts have been assigned for new works that will be executed in Bolivia, Peru and Romania, the company announced.

In Romania, Saipem is part of drilling in the Black Sea with the help of its own platform Scarabeo 9, in a project led by Lukoil.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.