Saipem wins onshore drilling contracts in Kuwait, Peru and Columbia

Italian oil and gas firm Saipem has won onshore drilling contracts worth around $250m in the Middle East and South America.

Kuwait Oil Company, the national oil giant, has awarded two contracts to the Italian firm for the supply of two 3,000HP deep-drilling rigs for its operations in the country.

The contracts have a duration of five years which can be extended for an additional twelve months.

These are in line with Kuwait’s intentions to develop its oil resources and marks Saipem’s entry into the country’s onshore drilling market.

The firm has recently been awarded two packages for the Al-Zour New Refinery Project from Kuwait National Petroleum Corporation.

Saipem is looking to strengthen its Equipped its business in the strategic Middle Eastern market using its experience in onshore drilling operation in desert environments.

The firm has also won similar contracts for onshore drilling assistance in South America, including Peru and Colombia, which boosts its oil and gas portfolio.

The Italian contractor offers engineering, procurement, project management and construction services for large-scale offshore and onshore oil and gas projects, and delivers technological competences including gas monetisation and heavy oil exploitation.

The onshore and offshore contracts awarded for Al-Zour New Refinery Project in Kuwait is worth around $1.3bn. Once developed, the facility will be ‘one of the largest oil-refining plants in the world’ having a refining output capacity of 615,000 barrels per day.