Egypt’s Petrobel Extends Contract for Saipem’s Jack-Up Rig

Egypt’s Petrobel Extends Contract for Saipem’s Jack-Up Rig

The Egyptian company Petrobel has extended a contract for Saipem’s jack-up rig for work offshore in Egypt. The Company extended the contract for the Saipem-owned Perro Negro 4 jack-up drilling rig by two additional years, Offshore Energy Today informed.

It is unclear as to where the rig will operate when the contract begins. Saipem currently has vessels working on the Zohr field. At the moment, the Italian oilfield services provider has the Castorone, Castoro Sei, Saipem FDS, Normand Maximus, and the Saipem 7000 vessels working in the field.

Another option for the Perro Negro 4 jack-up is to carry on working on the Belayim field in the Gulf of Suez as it did last year where it operated as a work-over rig.

Saipem said in its fourth quarter of 2016 financial results that the rig has been under contract with Petrobel, a JV company between Italy’s Eni and the Egyptian General Petroleum Corporation, since the beginning of 2017.

Dr. Mahinaz El-Baz 318 Posts

Mahinaz El Baz received her PhD degree in International Economics from Helwan University in 2022. She has +10 years of experience in journalism and economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.


Welcome! Login in to your account

Remember me Lost your password?

Don't have account. Register

Lost Password