Saipem Wins $840m Contract

Saipem SpA said it has won an $840m, five-year contract from Eni Norge for rental of its new semi-submergible deepwater drilling vessel Scarabeo 8. The contract is for drilling in the North Sea between the third quarter of 2009 and the third quarter of 2014, with an option for the client to extend the contract for another two years, it said. The hull of the new vessel is under construction in the Severodvinsk yard in Russia, while the drilling superstructure will be installed at a west Europe shipyard, which has still to be chosen. Source: Forbes