Seadrill has received a four year deal from Statoil, which is a global energy firm, for the West Hercules ultra-deepwater drill rig to operate in harsh surroundings.
The revenue value of this prospective deal is US$787 million, which contains the mobilization fee charge of US$50. Additionally, Statoil has the right for expanding the deal for a period of another one year.
The company has planned to begin the contract in the third quarter of 2012, after the finishing period of mobilization and the present deal in South China Sea. North Atlantic Drilling, which is 75% owned subsidiary of Seadrill, will activate the drill rig.
The sixth generation West Hercules is a high-tech semi-submersible drill rig that is placed dynamically with high specification. This drilling unit has been operating in the South China Sea since its release from the yard during November 2008.
The CEO of Seadrill has stated that the company is excited to receive a continuing contract for one of its most superior ultra deepwater drill rigs. This contract shows the increase of demand for the best drill rigs and permits the West Hercules rig to make use of its harsh atmosphere deepwater potential. Seadrill is elated for expanding its correlation with Statoil.