HAMILTON – Seadrill (NYSE: SDRL) announced today that they had secured a four-year contract for their ultra-deepwater semi-submersible drilling rig West Hercules. This rig will be conducting operations for Norwegian energy giant Statoil at a potential contract revenue value of US$787 million, including US$50 million in mobilization fee. Additionally, Statoil has the right to extend the contract for an additional one-year period.
Commencement of the assignment is scheduled for third quarter 2012, following completion of its current contract in South China Sea and mobilization period. The rig will be operated by North Atlantic Drilling Ltd., Seadrill’s 75 percent owned subsidiary.
West Hercules is a sixth generation, dynamically positioned, high-specification, state of the art semi-submersible drilling unit. The unit has been working in the South China Sea since delivery from the yard in November 2008.
Alf C Thorkildsen, Chief Executive Officer in Seadrill Management AS
“We are pleased to secure a long-term contract for one of our most advanced ultra-deepwater rigs. This assignment reflects the growth in demand for premium rigs and allows West Hercules to utilize its deepwater and harsh environment capabilities. We are delighted to extend our relationship with Statoil, as a key client and as one of our longest standing business partners.”
SINGAPORE, April 24 (Reuters) – Demand for liquefied natural gas (LNG) to power ships will rise this year on attractive prices, while more dual-fuel vessels join the global fleet, industry executives said....
(Bloomberg) — The Biden administration is taking steps to jump-start the fledgling offshore wind sector, outlining a five-year leasing plan that would include turbines in the far reaches of the...
U.S. Secretary of the Interior, Deb Haaland, has announced an ambitious five-year offshore wind leasing schedule that includes up to 12 potential offshore wind energy lease sales through 2028. The...
April 24, 2024
Total Views: 524
Why Join the gCaptain Club?
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.