Saipem wins multimillion-dollar rig jobs with Eni in Mediterranean and West Africa

Italy’s engineering, drilling, and construction services giant Saipem has added new offshore drilling missions to its worksheet through new contracts with compatriot energy heavyweight Eni, which enable it to deploy its fifth-generation ultra-deepwater drillship in the Mediterranean and its sixth-generation semi-submersible floater rig to West Africa.

The total value of the two new offshore drilling deals is approximately $121 million, further strengthening visibility on the utilization of Saipem’s fleet for 2026 and 2027. The first contract, awarded by Eni Cyprus, is for offshore drilling activities within the exclusive economic zone of the Republic of Cyprus using the Saipem 10000 drillship.

The operations are expected to begin between November 2026 and January 2027 in the Eastern Mediterranean. This drillship, which works in ultra-deep waters up to 10,000 feet, is capable of drilling down to 30,000 feet. The Eastern Mediterranean waters have become a significant natural gas frontier, with Cyprus coming into the spotlight due to multiple major gas discoveries, such as Cronos, Calypso, and Glaucus over recent years.

The oil and gas industry has a long-standing tradition of using mythology to name its discoveries, projects, and assets, as illustrated by this trio since Cronos is a Titan in Greek mythology, Calypso is a nymph who detained Odysseus on her island, and Glaucus is a sea deity associated with prophecy.

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