Saipem awarded new onshore drilling contracts worth an estimated USD 280 million

 September 19, 2006; h 12:00

San Donato Milanese, 19 September 2006 – Saipem has been awarded 13 new contracts for the
charter of onshore drilling rigs worth an estimated total of USD 280 million.

Drilling will take place in Saudi Arabia, Kazakhstan, Algeria, Egypt, Peru and Venezuela, for
periods ranging between 4 months and 5 years, depending on the terms of each contract.

Saipem currently operates a fleet of more than 40 onshore drilling and workover 1 rigs in Saudi
Arabia, North Africa, Caspian, Latin America and Italy. An estimated half of these have the
capability to drill to a depth of more than 6,000 metres.

These contracts allow Saipem to further consolidate its position in those areas where it has a longstanding
presence in its onshore and offshore construction business, taking advantage of synergies
and leveraging local content.

Saipem, 43% owned by Eni, is organised in three Business Units: Offshore, Onshore and Drilling, with a strong bias towards oil & gas related activities in remote areas and deepwater. Saipem is a leader in the provision of engineering, procurement, project management and construction services with distinctive capabilities in the design and the execution of large scale offshore and onshore projects, and technological competences such as gas monetisation and heavy oil exploitation.

Website: www.saipem.it
Switchboard: +39-025201
Shareholder Information:
Saipem S.p.A., Via Martiri di Cefalonia, 67 - 20097 San Donato Milanese (MI), Italy
Relations with institutional investors and financial analysts:
Tel.: +39-02520.34653
Fax: +39-02520.54295
E-mail: investor.relations@Saipem.eni.it