Petroleum Africa
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Tuesday, July 23, 2013
Chevron China Energy Co. has signed a contract with Seadrill for the newbuild ultra-deepwater drillship the West Tellus in support of Chevron’s affiliated global exploration program. The contract commences in China immediately upon shipyard delivery and thereafter relocates to Liberia.
The agreement is for a period of 180 days with revenue potential of approximately $150 million, inclusive of bonus potential and mobilization.
Additionally, Seadrill is currently engaged in advanced discussions with another major oil company for a multi-year contract commencing in direct continuation of the Chevron contract.
Per Wullf, CEO and President of Seadrill Management Ltd. said in a comment, “The multi jurisdiction contract for West Tellus demonstrates our willingness and ability to contract opportunistically and strategically when it is justified. The initial contract on West Tellus allows us to expand a long standing relationship with a key customer in the ultra-deepwater segment while also providing Seadrill the opportunity to place the West Tellus in West Africa, ready for a follow on contract.”
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