The Oslo Stock Exchange-listed drillship-owning company Deep Value Driller AS (DVD) announced in a stock exchange release on December 29, 2025, the extension of the company’s amended bareboat charter with Saipem and extension of Saipem’s exercise period for the purchase option to acquire the DVD Group’s 7th generation mobile offshore drilling vessel Deep Value Driller.
DVD has now announced an agreement to sell the drillship to Saipem for a total purchase price of $272.5m payable in cash.
The completion of the transaction with delivery of the drillship is expected to take place sometime prior to expiry of the existing bareboat charter arrangement on July 31, 2026 (Closing), subject to customary Closing conditions, as well as final board approvals by the board of Saipem and the board of DVD, to be lifted within 25 February 2026.
The existing bareboat charter arrangement with Saipem will remain in place until Closing occur, and charter hire will remain payable until 31 July 2026.
Following board approvals of the transaction, DVD aims to continue to pay monthly dividend from March 2026 until the end of the bareboat charter where the intention is to distribute the net proceeds from the sale of the rig to the shareholders.
