Italian offshore energy services firm Saipem has secured contract extension with Aker BP for its Scarabeo 8 semi-submersible drilling rig, in operation offshore Norway.
The contract for Saipem’s Scarabeo 8 for has been extended until the end of 2026, the Italian firm said.
In 2022, Aker BP and Saipem signed a three-year, $325 million contract for the Scarabeo 8 drilling rig, which began in early 2023.
The contract also included the option of two one-year extensions and encompasses potential upsides among which a performance bonus scheme and a mechanism of rate adjustment to market rates from the third year onward, Saipem said at the time.
Scarabeo 8 is a semi-submersible drilling rig, designed for harsh environments and capable of operating both in deep water with a dynamic positioning system and in shallow water with a dedicated mooring system.
The drilling rig meets the highest standards of the most stringent regulations and has proven track records in the North Sea, from Western Norway to the Barents Sea.
In June 2024, Aker BP and its partners have discovered gas in a wildcat well, drilled in the Barents Sea, using Saipem’s Scarabeo 8 semi-submersible drilling rig.
Earlier in that month, Aker BP made a gas discovery in an exploration well at Ferdinand Nord prospect in the Barents Sea, using the same drilling rig.