Saipem has been awarded new drilling contracts offshore, three in the Middle East and two in West Africa, for a Total value of approximately 800 million dollars net of leasing costs of ships used for the works. In medium East two contracts were awarded for two units of highly specialized jack-up drilling, the Perro Negro 12 and the Perro Negro 13, rented from third parties for activities drilling and workover on specific projects. The duration of the operations will be five years plus two optional for The first unit is three years plus an optional year for the second unit. The beginning of both projects is expected between the third and fourth quarters of 2023. The third contract concerns the five-year extension of an already existing contract in place for the Sea Lion high-performance jack-up unit 7, a self-lifting and highly elevated drilling unit Versatile capable of operating up to 375 feet deep of water.

In West Africa, Saipem was awarded two contracts in the ultra-deep water segment for drilling with Saipem 12000 sixth generation drillship. The first contract was awarded by Eni Cote d'Ivoire for drilling operations offshore Côte d'Ivoire, which are expected to start in the fourth quarter of 2022 and extend by about six months the current activities of the platform in the area. The second contract was awarded by Azule Energy for drilling, completion and testing of wells development and exploration off the coast of Angola in block 15/06 operated by Eni Angola. The contract will have the necessary duration to drill and complete 12 fixed wells (estimated lifetime of 26 months) and provides for the possibility of extension for a period optional. The project is scheduled to start in 2023, in continuity with previous works of the plant in Africa western.

With the contracts announced today, from the beginning of 2022 Saipem will new contracts awarded in the drilling segment offshore for a total value of about 1.6 billion euros Equivalent.