Saipem, a leading company in the engineering, drilling, and construction of major projects in the energy and infrastructure sectors, has secured two offshore drilling contracts worth nearly $550 million. Of these contracts, one is in the Middle East where it had ensured the continuity of the ongoing activity of the Perro Negro 7 jack-up drilling unit from the second half of the year by securing a ten-year extension to the existing contract. According to Saipem, the Perro Negro 7 is a jack-up capable of operating in up to 375 ft of water depth.