Singapore: Asia Offshore Drilling, owned by Seadrill and Thailand’s Mermaid Maritime, has reached an agreement with Saudi Aramco to reduce the operating day rates on jackup rigs AOD I, AOD II and AOD III by 10 percent.
The company was awarded a firm 3-year contract for the three rigs in 2013, with options for another one year to 2017. It said the rigs have been operating with utilisation rates in excess of 95% where in the most recent quarter, with an overall average of 99%.
The 10% reduction is effective from April 1, and will cost Asia Offshore Drilling around $20m in lost revenues.
