Saipem and MDC sign memorandum to explore offshore drilling in Egypt

FinanceInternationalInspenetOct 23, 2026, 10:28 AM35 s readAI summary

Italy's Saipem and Egypt's Modern Drilling Company (MDC) signed a memorandum of understanding, announced on October 22, 2026, to explore offshore drilling opportunities in Egypt and, later, in other Middle East and North Africa markets. The agreement is non-exclusive and envisages possible consortia, joint ventures and technical cooperation. A joint committee will coordinate the projects. No drilling contracts or concrete investments stemming from the alliance have been announced yet.

In 35 seconds

Saipem and MDC signed a memorandum of understanding to study offshore drilling opportunities, with Egypt as the first market.
The agreement is non-exclusive and allows both companies to keep working with other firms.
The collaboration could extend to other MENA countries through consortia, joint ventures or specific agreements.

Read the full story at Inspenet

IASummary generated by artificial intelligence from a story by Inspenet. It may contain errors: the original source prevails.

Saipem
MDC
perforación offshore
Egipto
energía

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Saipem and MDC sign memorandum to explore offshore drilling in Egypt

In 35 seconds

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