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Tuesday, August 12, 2014
Seadrill Ltd., in conjunction with its indigenous partner in Nigeria, Field Offshore Design Engineering Nigeria Ltd., secured a contract with Esso Exploration and Production Nigeria Ltd., an ExxonMobil subsidiary. The contract is for the use of the new build ultra-deepwater drillship, the West Saturn, in support of Esso’s ERHA North Phase 2 project offshore the West African nation.
The contract is for a firm period of two years plus a one year option and has a total revenue potential for Seadrill and Field Offshore Design Engineering Nigeria Ltd. for the primary contract term of approximately $497 million, inclusive of mobilization.
The West Saturn is currently under construction at Samsung Heavy Industries in Geoje, South Korea. The drillship is expected to be delivered in September.
The unit will initially be outfitted to work in up to 10,000 ft. of water and is capable of handling two BOP’s, operating in up to 12,000 ft. of water and drilling depths up to 40,000 ft.
Per Wullf, Seadrill CEO commented, “We are very pleased to be chosen by ExxonMobil, its partners, and Field Offshore Design Engineering Nigeria Limited for this important project. The West Saturn is Seadrill’s third rig in Nigeria, working alongside the West Jupiter and West Capella. The expansion of our presence in Nigeria is a result of our best in class operating standards, employees, and assets. We are proud to expand our business with these key customers and look forward to continued successful working relationships.”
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