The contract, which was signed with Eni, is for drilling operations mainly in the Gulf of Mexico, and will be executed between the end of 2009 and the end of 2014. The new rig is currently under construction at the Chinese yard of Yantai Raffles Shipyard and the rig delivery is scheduled for the fourth quarter of 2009.

Saipem bought the Scarabeo 9, previously named D90, following the acquisition of almost the entire holding in Frigstad Discoverer Invest Limited, a Norwegian company and owner of the drilling rig.

Scarabeo 9, a sixth generation drilling rig for ultra deep water, will be capable of operating in water depths of up to 3,600 meters, in full dynamic positioning, the firm said.