Italy’s engineering, drilling, and construction services giant Saipem has landed a third contract extension for its 13-year-old semi-submersible drilling rig with Aker BP, a Norwegian oil and gas player, for operations off the coast of Norway.

Aker BP has exercised a new option to extend the contract for the Scarabeo 8 rig for offshore drilling activities in Norway, prolonging its deployment for an additional year into 2028. This is the third extension of the contract originally awarded in March 2022, following those already announced for 2026 and 2027.

Saipem believes that this confirms the continuity of offshore drilling activities on the Norwegian Continental Shelf (NCS). The extension, worth $157 million, which covers the rate for rig hire, excluding fuel and other additional services, is subject to approval by Aker BP’s board of directors, scheduled for January 2026.

The two companies have introduced a clause in the contract, allowing for further future extensions, strengthening the long-term collaboration and consolidating the joint commitment to safe and sustainable operations in line with the highest industry standards.

The 2012-built Scarabeo 8 sixth-generation dual derrick deepwater semi-submersible drilling rig comes with an accommodation capacity for 140 people and a maximum drilling depth of 35,000 feet (about 10,668 meters).

Saipem has had a busy year. The firm recently confirmed the achievement of first gas at an asset that was recently converted from a semi-submersible drilling rig into a floating production unit (FPU) deployed at Eni’s liquefied natural gas (LNG) project offshore Congo, Africa.