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Seadrill Receives Two New Jack-Up Contracts from BHP Billiton Petroleum

By Joel ScanlonMar 29 2011

Seadrill has secured two new contracts from BHP Billiton Petroleum for Offshore Resolute in Vietnam and Offshore Vigilant in Trinidad.

It is anticipated that Seadrill will take 150 days for the three well drilling projects for Offshore Vigilant and the value of the contract is around US$20 million. The contract value of the two well assignments for Offshore Resolute is about US$11 million and is likely to take 90 days.

The company has planned to begin operations for Offshore Vigilant in the third quarter of 2011 by continuing the current contract and to begin Offshore Resolute operations in mid May 2011. The Offshore Vigilant deal contains options for four wells in addition and expects a period of 200 days.

This is the first agreement for Seadrill from BHP. This is a good chance for Seadrill to develop a strong affiliation with BHP. The total value of the two assignments is US$31 million and enhances the earnings visibility for jack-up contracts in 2011.

Source: http://www.seadrill.com/

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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Scanlon, Joel. (2019, March 19). Seadrill Receives Two New Jack-Up Contracts from BHP Billiton Petroleum. AZoMining. Retrieved on April 24, 2024 from https://www.azomining.com/News.aspx?newsID=3818.
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Scanlon, Joel. "Seadrill Receives Two New Jack-Up Contracts from BHP Billiton Petroleum". AZoMining. 24 April 2024. <https://www.azomining.com/News.aspx?newsID=3818>.
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Scanlon, Joel. "Seadrill Receives Two New Jack-Up Contracts from BHP Billiton Petroleum". AZoMining. https://www.azomining.com/News.aspx?newsID=3818. (accessed April 24, 2024).
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Scanlon, Joel. 2019. Seadrill Receives Two New Jack-Up Contracts from BHP Billiton Petroleum. AZoMining, viewed 24 April 2024, https://www.azomining.com/News.aspx?newsID=3818.