Saipem to acquire ultra-deepwater drillship for $272.5 million

Saipem has reached an agreement on the main terms to acquire the seventh-generation drillship Deep Value Driller for $272.5 million, a move aimed at strengthening the company’s offshore drilling fleet. 

The drillship is currently operating in Indonesia under a bareboat charter agreement between Deep Value Driller AS and Saipem (Portugal) Comércio Marítimo, a subsidiary of Saipem, which runs through July 31, 2026. The acquisition is expected to close no later than the expiration of the existing charter, subject to approval by the boards of both companies and execution of a binding agreement.

The Deep Value Driller is a modern, seventh-generation mobile offshore drilling unit designed for deepwater operations. Saipem said the planned purchase aligns with its strategy to reinforce its offshore drilling capabilities while maintaining disciplined capital allocation.

Once completed, the transaction will add the drillship to Saipem’s owned fleet, supporting ongoing and future deepwater drilling activity across key offshore markets.