Italian oilfield services provider Saipem has confirmed that Aker BP has exercised a further option to extend the contract for the semi-submersible drilling rig Scarabeo 8, keeping the unit on the Norwegian Continental Shelf (NCS) for an additional year, now through to 2028.
This marks the third consecutive extension of the agreement since the original charter was signed in March 2022, reflecting sustained drilling activity and operational collaboration between the two companies.
The extension is valued at US$157mn, covering the rig hire dayrate but excluding fuel and supplementary services, and is subject to approval by Aker BP’s board, expected in January 2026. Saipem and Aker BP have also included a contractual clause enabling future options for further extensions, signalling their intention to maintain the partnership beyond 2028 if market conditions and operational requirements align.
Scarabeo 8 is a sixth-generation semi-submersible drilling unit engineered for demanding offshore environments such as the North Sea and Barents Sea, capable of year-round operations under stringent regulatory standards. The rig is equipped with advanced dynamic positioning (DP3) and mooring systems and holds a DNV winterised basic classification, allowing it to operate in harsh weather conditions while aiming for “zero pollution” and “zero discharge” performance. It can support drilling to significant depths and accommodate large crews, making it suitable for complex exploration and well construction projects in deep and shallow waters.
The original contract, awarded in March 2022, had a three-year firm period worth approximately US$325mn and included options for two further one-year extensions. Since then, Aker BP has exercised those options annually, with the latest move extending the contract into 2028 after previous extensions for 2026 and 2027.
Operationally, Scarabeo 8 has been involved in key activities on the ncs under Aker BP’s drilling programme. Last year, it set a new record for the longest exploration well drilled by Aker BP in Norway, reaching a total depth of 8,513 m, underscoring the rig’s performance and capability in frontier exploration drilling.
The latest extension not only highlights Saipem’s ongoing role in supporting hydrocarbon exploration and production in one of the world’s most challenging offshore environments but also indicates broader confidence in continued offshore oil and gas activity in norway amid evolving energy markets.
