Saipem wins $260m offshore drilling contract for Côte d’Ivoire
- Contract valued at approximately 260 million USD.
- Drillship Santorini to undertake a long-term development drilling campaign offshore Côte d’Ivoire.
- Operations scheduled to begin in early 2027, with a firm commitment plus optional extension periods and potential work in neighbouring countries.
- Contract classified as a related‑party transaction with Eni Côte d’Ivoire Limited and falls within specified Consob and Saipem exclusions.
Contract scope
Saipem has been awarded an offshore drilling contract by Eni Côte d’Ivoire Limited, valued at approximately 260 million USD. The drillship Santorini will be deployed offshore Côte d’Ivoire for a long‑term development drilling campaign.
Schedule and optionality
Operations are scheduled to begin in early 2027. The project includes a firm commitment for an extended drilling programme, plus additional optional periods and the potential deployment of the rig in neighbouring countries, enhancing long‑term visibility and continuity of the unit’s utilisation.
Related‑party disclosure
Pursuant to Article 6 of the Consob Regulation on related party transactions, Saipem states the contract qualifies as a related‑party transaction as it is with Eni Côte d’Ivoire Limited, a company controlled by Eni S.p.A. It is described as a "transaction of greater importance" that is an ordinary transaction carried out at market‑equivalent or standard conditions and falls within the exclusion under Article 13(3)(c) of the Consob Regulation and Article 8.2(c) of Saipem’s guidelines on transactions with related parties.
Source: Saipem