SAUDI ARABIA

 

Saipem Wins $250Mn Contract Amid Regional Drilling Boom

Italy’s Saipem on 24 July announced it had signed five contracts for onshore drilling rigs in Saudi Arabia, with a value of “approximately $250mn.” The awards come as a combination of sustained higher oil prices over the last few years and more challenging geology spark an upsurge in regional drilling activity.

 

While full details were not given, Saipem did reveal...