Malaysia’s Perisai Petroleum has announced that its subsidiary Perisai Offshore has executed the supplementary contract with Petronas for the provision of its jackup drilling rig Perisai Pacific 101.
.The original contract was signed in May 2014 for duration of three years.
Under the supplementary contract, Perisai Offshore and Petronas have agreed to extend the duration of the contract based on a formula, which is primarily dependent on the prevailing market rate for the daily charter.
Unless there are changes to the prevailing market rate, the contract is expected to be extended for a period of approximately twenty months.
