Saipem Agrees Acquisition Of Deep Value Driller Unit

(MENAFN- Trend News Agency) BAKU, Azerbaijan, February 17. Italian engineering and energy contractor Saipem announced that it has reached an agreement with Deep Value Driller AS (DVD) on the main terms for the acquisition of the seventh-generation mobile offshore drilling unit Deep Value Driller for $272.5 million, Trend reports via the company.

The unit is currently operating in Indonesia under a bareboat charter agreement between Saipem's Portuguese subsidiary and DVD, valid until July 31, 2026. The completion of the transaction is expected by the expiration of the current charter and is subject to approval by the boards of both companies.

The acquisition is part of Saipem's strategy to strengthen its offshore drilling fleet while maintaining a disciplined approach to capital allocation.

Saipem, listed on the Milan Stock Exchange, is a global leader in engineering and construction for the energy and infrastructure sectors, both offshore and onshore. The company operates five fabrication yards and an offshore fleet of 17 construction vessels and 12 drilling rigs, of which nine are owned. Its business is organized into several lines, including Asset-Based Services, Drilling and Sonsub, Energy Carriers, Offshore Wind, and Sustainable Infrastructures.

With a workforce of about 30,000 employees across more than 50 countries, Saipem emphasizes technological innovation and sustainable engineering, supporting clients in the energy transition towards Net Zero using digital technologies and environmentally sustainable processes.

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