Saipem to acquire Deep Value Driller drillship for $272.5 million

Saipem announced an agreement to acquire the seventh-generation mobile offshore drilling unit Deep Value Driller from Deep Value Driller AS for $272.5 million. The Deep Value Driller is currently operating in Indonesia under a bareboat charter agreement with a Saipem subsidiary until July 31, 2026. The acquisition aligns with Saipem’s strategy to strengthen its offshore drilling fleet while maintaining a disciplined approach to capital allocation. Completion of the transaction is expected by the expiration of the existing bareboat charter, set for July 31, 2026, subject to approval by the Boards of Directors of both Saipem and DVD.

Counterparts (2)

Seller

D

Deep Value Driller AS

company

Lysaker-based offshore drilling contractor operating the ultra-deepwater drillship 'Deepsea Metro I' for oil and gas exploration and production.

Buyer

Saipem

company

Saipem is a global leader in engineering, procurement, construction, and installation (EPCI) services for the energy and infrastructure sectors. The company specializes in complex projects, including offshore and onshore drilling, subsea construction, and large-scale infrastructure development, with a growing focus on energy transition solutions. They offer a comprehensive range of services from conceptual design to commissioning and maintenance.