Saipem has signed a bareboat charter contract with the Samsung Heavy Industries Company yards for a new drillship, the Samsung Santorini which will be delivered in November 2021. The bareboat charter of about two years duration allows Saipem to strengthen the competitiveness of its fleet without investing in new assets, but by leveraging its consolidated expertise in the selection and management of technologically advanced vessels. The contract with Samsung still provides for the option to purchase the ship, which can be exercised at the discretion of Saipem depending on the trend of demand. The Samsung Santorini is a seventh-generation drillship equipped with two 7 cavities anti-eruption devices (Blow Out Preventer – BOP), the highest standard for ultra-deep water drillships. The high-performance craft is capable of operating at water depths up to 12,000 feet (over 3,500 meters). The vessel holds the latest solutions in the field of digitalization and automation that guarantee high standards of safety and respect for the environment that place it at the top of the offer in terms of technology for ultra-deep-water projects.