Saipem Firms Up Charter Option for Deep Value Driller Drillship

Deep Value Driller drillship (Credit: Deep Value Driller)

Saipem has entered into an amended bareboat charter with Deep Value Driller for the seventh-generation drillship Deep Value Driller.

Earlier in 2025, the charterer, Saipem, was granted an option until April 14, 2025 to enter into an amended bareboat charter for the Deep Value Driller drillship, which has been exercised.

Saipem and Deep Value Driller signed the amended bareboat charter, which will cover a period of 365 days from July 1, 2025, with an option for the charterer within the first six months of the initial period to extend it with an additional 365 days.

For the initial period, the amended bareboat charter will add in the range of $54-55 million in revenue backlog to Deep Value Driller., assuming no idle period for the drillship or other periods where reduced rates may apply as per the amended bareboat charter.

Following the exercise of the option, the Charterer has further been granted an option to purchase the drillship.

Deep Value Driller drillship was 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).