Saipem, following international tenders, has been awarded two offshore drilling contracts for the charter of the drillship Saipem 10000 and for the semi-submersible unit Scarabeo 4 for a combined value of approximately 190 million USD.



The contract for the charter of the drillship Saipem 10000 has been awarded by the French oil company Total Exploration and Production Angola, Operator of offshore Angola Block 17(1), and will commence since the third quarter 2005. Drilling activities will take place in the ROSA field, 200 kilometres offshore Angola, at water depths of up to 1,700 metres. The contract will last two years, and Total has the option to extend it for a further two years.



The second contract has been awarded by IEOC (International Egyptian Oil Company) for the charter of the semi-submersible drilling rig Scarabeo 4 to drill 4 wells off Egypt for approximately 8 months, with commence date June 2005. IEOC has the option to extend it for a further 2 wells.