Seadrill Secures Contract for Jack-Up Rig West Callisto Offshore Saudi Arabia

Seadrill Secures Contract for Jack-Up Rig West Callisto Offshore Saudi Arabia

Seadrill has signed a contract with Saudi Aramco for employment of the jack-up rig West Callisto offshore Saudi Arabia.

The contract duration is a minimum of three years plus an option for a one year extension. The potential revenue for the three year period is approximately US$164 million plus a US$20 million mobilization fee to cover various upgrades, dry tow vessel expenses and dayrate in the mobilization period. The West Callisto is currently operating in Southeast Asia and is scheduled to finalize its existing work scope in August 2012. The unit will subsequently commence its transit to the Middle East and is scheduled to start operations for Saudi Aramco in September 2012.

Alf C Thorkildsen, CEO in Seadrill Management AS, says in a comment, “We are delighted to have signed our first contract with Saudi Aramco for operation in Saudi Arabia. This award complements our growing jack-up operations in the region which will increase from two to five units this year. We continue to see a strong demand for premium jack-up rigs and expect to improve our earnings visibility for this asset class going forward.”

Source: Seadrill, March 12, 2012

Share this article

Follow World Maritime News

In Depth>

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Seawork 2020

Seawork is Europe’s leading commercial marine and workboat exhibition, providing businesses the opportunity…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >

Europort Romania

Europort Romania is the premier maritime networking event of the Black Sea and will connect maritime technology and service suppliers with high level professionals from Romania and surrounding shipbuilding markets.

More info

read more >