Seadrill awarded three rig contracts

Seadrill awarded three rig contracts

John Fredriksen’s Seadrill has secured three new rig contracts with total value of around $89m, according to the company’s latest fleet status report.

Semi-submersible rig West Phoenix was awarded a two-well contract and six options with Equinor in the UK and Norway, which is expected to commence in direct continuation with its current contract. Three of the options have been exercised resulting in total backlog of approximately $51m.

The West Castor jackup rig was awarded a contract by Staatsolie in Suriname commencing in March. The total backlog including mobilisation is approximately $25m.

Additionally, the West Callisto jackup rig was awarded a 6-month extension with Saudi Aramco which will see the unit keep working for the company until July, adding about $13m in backlog.

“The offshore drilling market continues to show signs of improvement with increased tendering activity and better contract economics. We expect more activity in 2019 to lead to a tighter supply demand balance and improved pricing in 2020 as the recovery progresses,” said Anton Dibowitz, CEO of Seadrill.

Earlier this month, Seadrill formed a 50:50 joint venture with Sonangol to operate drillships with a focus on opportunities in Angolan waters.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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