SAIPEM EXERCISES PURCHASE OPTION OF $230 MILLION FOR SANTORINI DRILLSHIP

December 07, 2022

Saipem has exercised its purchase option concerning the seventh-generation Santorini drillship, which is already operating within the Saipem fleet by way of a long-term charter agreement signed with Samsung Heavy Industries in 2021.
The exercise price of the purchase option is 230 million USD, to be paid by the end of 2022.
The Santorini, whose construction was completed in 2021, is a technologically advanced vessel, equipped with two seven-cavity Blow Out Preventers (BOP), the highest standard for ultra-deepwater drillships, state-of-the-art operations automation systems, and the latest solutions to optimise environmental impact.
The vessel is currently in operation in the United States (Gulf of Mexico) for the execution of a contract with Eni expiring in the third quarter of 2023.
The acquisition has been determined by the favourable trend in demand in the offshore drilling segment and in particular deepwater.
Santorini was taken on a bareboat charter by Saipem in November 2021 and put to work in the US Gulf of Mexico for Eni
(Source: Saipem)