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Italy's Saipem wins onshore drilling contracts in Romania, Bolivia, Peru

Italy's Saipem wins onshore drilling contracts in Romania, Bolivia, Peru

BUCHAREST (Romania), December 27 (SeeNews) - Italian oil and gas industry contractor Saipem said on Friday it has been awarded new contracts and extensions on existing contracts in onshore drilling for new works that will be executed in Romania, Bolivia and Peru.

The contracts related to the Onshore Drilling Division encompass 19 land-rigs located in the Middle East, with power between 1500 and 2000 HP, and their duration range from three up to ten years, Saipem said in a press release.

Saipem also signed contracts related to the Offshore Drilling Division concern activities to be executed in Norway and in Angola.

The contracts and extensions on onshore and offshore drilling works are worth a total $1.7 billion (1.53 billion euro), the company said.

"The award of these contracts proves the solidity and reliability of the operational performance of our Drilling Divisions and further strengthens Saipem’s long-time presence in strategic areas of the world," Saipem CEO Stefano Cao said.

In July, Saipem said it has been awarded new contracts in offshore drilling in Romania and Abu Dhabi worth over $160 million.

According to one contract, the company will drill a well in Romania’s Black Sea waters, as this is expected to happen in the fourth quarter of 2019. 

Saipem is present in over 70 countries and has expertise in the management of complex projects in harsh environments, remote areas and deep water, in particular for the oil and gas industry.

($= 0.9032 euro)