Saipem and Modern Drilling Company sign offshore cooperation MoU

Saipem and Egypt’s Modern Drilling Company (MDC) have signed a memorandum of understanding (MoU) to explore collaboration opportunities in offshore drilling. The agreement was formalized during the Mediterranean Offshore Conference and Exhibition (MOC 2026) in Alexandria.

The partnership aims to identify commercial initiatives in offshore drilling services, potentially through joint ventures, consortia, or project-specific agreements. The cooperation will involve sharing technical expertise, asset management, and training to support upcoming exploration activities.

Saipem, an Italian energy services company, has a significant presence in Egypt, including work on the Zohr gas field and the Burullus Phase IV development. MDC, formerly known as SinoTharwa Drilling Company, provides onshore and offshore drilling and workover services in the Middle East and North Africa region.