Pacific Drilling S.A. (NYSE: PACD) (NOTC: PDSA) announced today that its ultra-deepwater drillship the Pacific Scirocco commenced operations in Nigeria on December 31, 2011. The drillship is contracted for an initial one-year term to a subsidiary of Total S.A. (NYSE: TOT). The contract further provides for options, to be exercised at the client’s discretion, which could result in up to four additional years of contract term.
The Pacific Scirocco is a dual-activity, dynamically positioned drillship, classed by ABS, and Liberian-flagged. She was built by Samsung Heavy Industries in 2011 and is capable of operating in water depths of up to 12,000 feet and drilling wells 37,500 feet deep.
Speaking with Pacific Drilling this morning, they note that this rig will not be using dual gradient technology while on contract with Total, although this rig is upgradeable and ready to be fitted with this system should the client request it. To learn about this game-changing technology, click HERE.