Deep Value Driller AS has agreed with Saipem to extend the amended bareboat charter for its 7th-generation ultra-deepwater drillship Deep Value Driller, securing continued employment for the unit through 31 July 2026.

The parties added a firm 31-day extension to the current charter term, pushing the end date to late July 2026. In parallel, Saipem’s option to purchase the drillship has been prolonged and can now be exercised up to 16 February 2026.

Under the updated terms, the purchase price remains $300 million, plus any remaining hire due under the initial charter period, where applicable.

Beyond mid-2026, Saipem also holds an option to extend the amended bareboat charter by a further 365 days, covering 1 August 2026 to 31 July 2027. If that charter-extension option is declared by 16 February 2026, the purchase option would also be extended to 31 December 2026.

Deep Value Driller AS is a Norway-based company that owns drillships. The company’s sole asset, Deep Value Driller, is a high-specification unit delivered in 2014.