Market sources have indicated that Santorini has been sublet from Eni by Galp Energia for work offshore Namibia. Galp will conduct a four-well campaign to explore and appraise the Mopane Complex, following up the Mopane exploration campaign that concluded in April 2024.
During the previous exploration campaign, Galp encountered oil at the Mopane-1X and Mopane-2X wells. The next campaign is to begin this quarter and include two exploration wells and two appraisal wells.
Santorini has been working for Eni since March 2022. In April 2023, Saipem secured a two-year contract extension for the rig with Eni, starting in August 2023 and valued at $280 million. Eni have used the rig for work in the US GOM, Egypt and Côte d’Ivoire.