Saipem wins $260 million offshore drilling contract in Côte d’Ivoire

Italian contractor Saipem has been awarded an offshore drilling contract by ENI Côte d’Ivoire Limited worth about $260 million. The deal will see Saipem’s drillship Santorini deployed off the coast of Côte d’Ivoire from early 2027 for a long‑term development drilling campaign on ENI’s Baleine Phase 3 project. The phase is expected to raise oil output from 60,000 to 150,000 barrels per day and gas production from 80 to 200 million cubic feet per day, totaling roughly 183,000 barrels of oil‑equivalent per day.

Saipem notes the contract includes a firm‑commitment for an extended drilling programme, with optional periods and the possibility of using the rig in neighbouring countries. The arrangement is classified as a related‑party transaction under Italian Consob regulations because it is with a company controlled by ENI S.p.A.