Saipem and Modern Drilling Company have agreed to assess offshore drilling opportunities in Egypt, with potential cooperation elsewhere in the Middle East and North Africa, Splash247 reports.

The companies will consider projects individually and may work through joint ventures, consortia or project-specific agreements. A coordination committee is to identify and monitor opportunities. The arrangement does not by itself establish a new drilling award, booked revenue or work already performed.

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Source: Splash247 · original report