Italian energy services contractor Saipem has been awarded a new offshore drilling contract valued at approximately $260 million by compatriot energy giant Eni, according to Splash247. The contract, awarded by Eni’s subsidiary Eni Côte d’Ivoire Limited, will see the deployment of the drillship Santorini offshore the Ivory Coast for a long-term development drilling campaign, with operations scheduled to begin in early 2027.
Contract Details
The project includes a firm commitment for an extended drilling program, with the potential deployment of the rig in neighbouring countries as well as additional optional periods, further enhancing the long-term visibility and continuity of the unit’s future utilisation, Splash247 reported. The specific project for the drillship was not disclosed in the announcement.
Baleine Phase 3 Development
However, Splash247 noted that Eni approved the final investment decision for the Baleine Phase 3 project offshore the Ivory Coast in May. The full-field Phase 3 development will increase oil production from 60,000 to 150,000 barrels per day and gas output from 80 to 200 million cubic feet per day. The project is reportedly worth $4 billion and includes the development of a new FPSO unit, which will be built by Wison New Energies and is expected to be completed by mid-2028.
| Commodity | Current Output | Phase 3 Target |
|---|---|---|
| Oil (bpd) | 60,000 | 150,000 |
| Gas (mmcfd) | 80 | 200 |
Implications for Commodity Supply
The significant increase in oil and gas production from the Ivory Coast, as outlined in the Baleine Phase 3 plan, will add to global supply, particularly for West African crude grades. While no specific commodity price impact was reported, the additional barrels and cubic feet expected from this campaign underscore Eni's commitment to expanding its upstream portfolio in Africa. The contract and project highlight ongoing investment in offshore drilling capacity to meet long-term energy demand.
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