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, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, content production, design, animation, database and networking, software, and editing. Joel has been with AZoNetwork since its inception in 2000.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Scanlon, Joel. (2019, February 18). Seadrill Secures Long-Term Contract from Statoil for Ultra-Deepwater Drill Rig. AZoMining. Retrieved on November 29, 2021 from https://www.azomining.com/News.aspx?newsID=4928.

  • MLA

    Scanlon, Joel. "Seadrill Secures Long-Term Contract from Statoil for Ultra-Deepwater Drill Rig". AZoMining. 29 November 2021. <https://www.azomining.com/News.aspx?newsID=4928>.

  • Chicago

    Scanlon, Joel. "Seadrill Secures Long-Term Contract from Statoil for Ultra-Deepwater Drill Rig". AZoMining. https://www.azomining.com/News.aspx?newsID=4928. (accessed November 29, 2021).

  • Harvard

    Scanlon, Joel. 2019. Seadrill Secures Long-Term Contract from Statoil for Ultra-Deepwater Drill Rig. AZoMining, viewed 29 November 2021, https://www.azomining.com/News.aspx?newsID=4928.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit