Petrobras, Brazil's state run oil company, will rent an offshore oil rig from Saipem, a subsidiary of Italian oil and gas company ENI.
PETROBRAS, Brazil's state run oil company, will rent an offshore oil rig from Saipem Saipem is an Italian oil and gas industry contractor. It is a subsidiary of Italian energy company Eni, which owns approximately 43% of Saipem's shares. Saipem has contracted for designing and constructing several pipelines, including during Blue Stream, Greenstream, Nord Stream , a subsidiary of Italian oil and gas company ENI. Petrobras will pay US$600 million to operate the rig for nine years and could extend the contract for another three.
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