Saipem Extends Charter, Purchase Option for Deep Value Driller Drillship

Deep Value Driller drillship (Credit: Deep Value Driller)

Deep Value Driller has agreed with Saipem to extend the bareboat charter for its seventh-generation drillship Deep Value Driller and to prolong the period during which Saipem may exercise an option to buy the vessel.

Under the amended agreement, the parties have agreed to a firm 31-day extension of the charter through July 31, 2026, Deep Value Driller said. The extension also prolongs Saipem’s purchase option until February 16, 2026.

The purchase price under the option is set at $300 million, plus payment of any remaining hire for the initial charter extension period.

Saipem also holds an option to extend the bareboat charter by a further 365 days from August 1, 2026, to July 31, 2027. That option must be declared by February 16, 2026. If exercised, the right to purchase the drillship on the same terms would be extended until December 31, 2026.

The Deep Value Driller is a high-specification ultra-deepwater drillship built in 2014, featuring GustoMSC P10000 design and able to accommodate 210 people.

The drillship is capable of operating in water depths of up to 10,000 feet (3 kilometers), with a maximum drilling depth of 40,000 feet (12.2 kilometers).

• Saipem Firms Up Charter Option for Deep Value Driller Drillship