Tuesday, April 3, 2012

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Oil and Gas Recruiting

 

 

 

  

Seadrill signs $184mn rig deal with Saudi Aramco

Seadrill, the world's biggest offshore oil driller by market value, has signed a $184 million deal with Saudi Aramco for the employment of its jack-up rig West Callisto offshore Saudi Arabia, the firm said on Mar 12.

The contract duration is a minimum of three years plus an option for a one-year extension, Seadrill said.

The potential revenue for the three-year period is approximately $164 million plus a $20 million mobilization fee to cover various upgrades.

Alf C. Thorkildsen, CEO in Seadrill Management AS, said "the 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."

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 Aramco in September 2012.
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