Saipem announces that it has reached an agreement with Deep Value Driller AS (“DVD”) on the main terms and conditions for the acquisition of the seventh generation mobile offshore drilling unit Deep Value Driller. The agreed purchase price amounts to 272.5 million USD.

The Deep Value Driller is currently subject to a bareboat charter agreement between Saipem (Portugal) Comércio Marítimo, Sociedade Unipessoal, Lda (a subsidiary of Saipem S.p.A.) and DVD until 31 July 2026 and is operating in Indonesia.

The execution of the related binding agreement is, among other things, subject to approval by the Boards of Directors of Saipem and DVD.

Completion of the transaction is expected to occur, at the latest, by the expiration of the existing bareboat charter, set for 31 July 2026.

The acquisition is in line with Saipem’s strategy to strengthen its offshore drilling fleet while maintaining a disciplined approach to capital allocation.

About Saipem

Saipem is a global leader in the engineering and construction of major projects for the energy and infrastructure sectors, both offshore and onshore. Saipem is “One Company” organized into business lines: Asset Based Services, Drilling and Sonsub, Energy Carriers, Offshore Wind, Sustainable Infrastructures. The company has 5 fabrication yards and an offshore fleet of 17 construction vessels owned and 12 drilling rigs, of which 9 owned. Always oriented towards technological innovation, the company’s purpose is “Engineering for a sustainable future”. As such Saipem is committed to supporting its clients on the energy transition pathway towards Net Zero, with increasingly digital means, technologies and processes geared for environmental sustainability. Listed on the Milan Stock Exchange, it is present in more than 50 countries around the world and employs about 30,000 people of over 130 nationalities.