Norwegian oil and gas player Aker BP has received consent from Norway's offshore safety regulator for drilling
shallow gas pilot wells in the North Sea off Norway, which will be undertaken with one of Saipem's semi-
submersible rigs.

The Petroleum Safety Authority Norway (PSA) disclosed recently that it had given Aker BP consent for the drilling
of shallow gas pilot wells in production licenses 167 and 359 in the North Sea.

The first license, 167, was awarded on 11 March 1991 and is valid until 1 March 2030. Aker BP is the operator of
the licence with an ownership interest of 50 per cent, while its partners are Equinor (30 per cent) and Sval Energi
(20 per cent).

On the other hand, the second license, 359, was awarded on 6 January 2006 and is valid until 6 January 2036.
Aker BP is the operator of the licence with an ownership interest of 65 per cent, while its partners, OMV Norge
and Wintershall Dea Norge, hold the remaining 20 and 15 per cent interest, respectively.

The drilling operations will be carried out with the Scarabeo 8 semi-submersible rig. Back in March 2022, a three-
year deal, worth $325 million, was awarded to Saipem for this rig. As disclosed at the time, the contract with two
one-year extension options was scheduled to start in the fourth quarter of 2022.

Scarabeo 8 is a dual derrick deepwater semi-submersible drilling rig capable of working in harsh environments
with a dynamic positioning system and enhanced mooring capabilities. The rig can accommodate 140 people
and its maximum drilling depth is 35,000 ft.