Seadrill Secures Long-Term Contract from Statoil for Ultra-Deepwater Drill Rig

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.

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

Joel Scanlon

Written by

Joel Scanlon

Joel emigrated to Australia in 1995 and worked for five years in the mining industry as an exploration geotechnician, using GIS mapping and CAD software. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm. After that, he ran a successful business providing web services to businesses along the eastern seaboard of Australia. During this time, he developed and launched News-Medical.Net. Joel has been working with AZoNetwork since the company was founded in 2000.

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