Perro Negro 12

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escveritas
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Perro Negro 12

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Saipem: new offshore drilling contracts in the Middle East and West Africa worth approximately 800 million USD

Milan (Italy), November 15, 2022 – Saipem has been awarded new offshore drilling contracts, three in the Middle East and two in West Africa for a total amount of approximately 800 million USD. This value is considered net of the leasing costs of the vessels used for the works

In the Middle East two new contracts have been awarded for two high-specification Jack-Up drilling units, the Perro Negro 12 and Perro Negro 13, chartered by third parties for drilling and workover activities on the specific projects. The duration of the operations will be five years plus two optional years for the first unit and three years plus one optional year for the second unit. Both the projects are scheduled to start between the third and the fourth quarter 2023. The third contract encompasses the five-year extension for an existing contract for the high-specification Jack-Up unit Sea Lion 7, highly versatile self-elevating drilling unit able to operate up to 375 feet water depth.

In West Africa, Saipem has been awarded two contracts in the Ultra Deep-Water segment for drilling operations with the sixth-generation Drillship Saipem 12000.

The first contract has been awarded by Eni Cote d'Ivoire for drilling operations offshore Ivory Coast, which are expected to start in the fourth quarter 2022 and extending the current activities of the rig in the area of about six months.

The second contract has been awarded by Azule Energy for drilling, completion and testing of development and exploration wells offshore Angola in Block 15/06 operated by Eni Angola S.p.A. The contract will have the duration necessary to drill and complete 12 firm wells (estimated lasting 26 months) and include the possibility of extension for an optional term. The project is scheduled to start in 2023 in continuity with the previous works of the rig in West Africa.

These long-term awards in the Middle East confirm Saipem strategy towards this key area for its business and the awards in West Africa secure the continuity of operations in line with Saipem strategy for the ultra-deepwater market in this area.

With the contracts announced today, since the beginning of 2022 Saipem has been awarded new contracts in the offshore drilling segment for a total amount of about 1,6 billion EUR equivalent.
escveritas
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Re: Perro Negro 12

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Recently, Ocean Challenger (hereinafter referred to as "OC"), an asset operation and management company under CIMC, reached a new cooperation agreement with the internationally renowned Italian's drilling contractor, Saipem on the 300-foot jack-up drilling platform it operates and manages. This is another consensus quickly formed between the two parties following the cooperation on the 400-foot platform PN11. The new platform will be named Perro Negro 12.

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Since 2022, the global offshore drilling market has picked up, and the jack-up drilling platform market in the Middle East has performed particularly well. Against this background, OC maintains close contact with partners in the industry, collaborates efficiently, responds quickly to market demand, lays out key market areas, and revitalizes multiple assets within a year.

The cooperation between CIMC and Saipem began in the early stage of the rise of China's offshore engineering, and the two parties have laid a good foundation for new offshore engineering projects. In a letter of thanks sent by Saipem on October 28 this year, Saipem praised the professional performance of the CIMC asset team in the technical and operational aspects of the PN11 project. The two sides are carrying out all-round and multi-level cooperation in various fields, and we look forward to achieving more results.
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Re: Perro Negro 12

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Naming and Departure for Perro Negro 12, a CIMC 300 feet Drilling Jack Up Rig

Date:2023-03-06 12:33:40

At the end of February 2023, the naming and departure ceremony of the 300 feet Drilling Jack Up Rig "PERRO NEGRO 12" (hereinafter referred to as PN12), which was managed by Ocean Challenger, an Offshore Asset Management Company affiliated to CIMC group, was held at the CIMC Raffles shipyard. Site team of Saipem, Representatives of ABS Classification Society, CIMC Raffles Project Team, CIMC Offshore Assets Team and other parties attended the ceremony. Ms. Chiara Perotti, Project Manager of Saipem named the rig.

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PN 12 is of the world reowned FNG SUPER M2 design and is capable of operating in a water depth of 300 feet and able to drill to a depth of 30,000 feet. PN12 is one of the greatest achiever among the CIMC 300 feet Gulf Driller Rigs Series. After departure in early March, PN12 will complete its upgrading works in the Middle East, where after will start its drilling and workover operations for Saudi Aramco.

PN12 marks the continuation of another successfully cooperation between Saipem and CIMC Asset Management Company/Ocean Challenger after a previous collaboration on "PERRO NEGRO 11" (hereinafter referred to as PN11) over last July 2022, whereby both parties once again joined hands to overcome all challenges during the project execution phrases at different work areas and time zones.

With the current boom at the Oil & Gas industry, there are great opportunities for enhanced strategic cooperation between CIMC and Saipem. "PERRO NEGRO 12”shall be the new platform for both CIMC and Saipem to deepen the relationship and cooperation for a capitalized advantage in the market. CIMC and Saipem has a long history of cooperation which can be traced back to remarkable projects such as Scarabeo 9, Castorone, Perro Negro 11 and now Perro Negro 12. Both CIMC and Saipem will uphold and consolidate a strong partnership to embrace all future business opportunities together.

Ocean Challenger, an Offshore Asset Management Company affiliated to CIMC Group, was established in 2010 and have offices in China, Singapore, the Netherlands and Norway. Inculcated with a global mindset from CIMC Group, Ocean Challenger has been a solution provider to our international customers, and has successfully delivered, managed and operated more than 20 offshore assets worldwide.

Saipem is an advanced technological and engineering platform for the design, construction and operation of safe and sustainable complex infrastructure and plants. Saipem has always been oriented towards technological innovation and is currently committed, alongside its clients, on the frontline of energy transition with increasingly digitalised tools, technologies and processes that were devised from the outset with environmental sustainability in mind.
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