Seadrill Adding New Tender Rigs To Fleet
Bermuda-based oil and gas exploration firm Seadrill has today [Feb. 28] entered into an agreement for the construction of two tender rigs with the COSCO Nantong Shipyard in China.
The two new units, T15 and T16, are scheduled for delivery in the first quarter and third quarter 2013, respectively. Total project price is estimated at $225 million, which includes project management, drilling and handling tools, spares and capitalised interest.
The two new units will be based on similar design and specifications as recently built tender rigs [one of which is pictured], but with enhanced drilling capabilities allowing for higher drilling efficiency including the advantage of a light weight drilling equipment set.
Both of the two new tender rigs have been contracted by Seadrill to Chevron Thailand Exploration & Production for a five-year period offshore Thailand. Estimated contract value for the two units is approximately $420 million. Commencement of operations is scheduled in the second quarter 2013 and fourth quarter 2013.
Alf C. Thorkildsen, CEO in Seadrill Management AS says: “These newbuilds are an important addition to our present tender rig fleet. The new orders increase earnings and visibility, and enhance the attractiveness of our fleet. The $420 million of new contracts demonstrates the competitiveness of our tender rig concept. T15 and T16 will be added to a fleet of four tender rigs already operating for Chevron, further strengthening our relationship with a leading global client.”
SeaDrill Limited is a Bermuda-based company active within the oil and gas industry. Its activities are of an offshore drilling contractor. The company operates a fleet of almost 40 offshore drilling units consisting jack-up rigs, semi-submersible rigs, drillships and tender rigs.
The company operates through subsidiaries in Bermuda, Norway, Cayman Islands, British Virgin Islands, Cyprus, Nigeria, Liberia, Hungary, Singapore, Brazil, Hong Kong, Panama, the United Kingdom, Denmark, Malaysia, Brunei and the United States.
Norwegian-born shipping tycoon John Fredricksen — who also heads up Bermuda-domiciled Frontline, which boasts one of the world’s largest fleet of crude oil tankers – is Seadrill’s president and chairman of its board.
