Petroleum Africa
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Tuesday, June 5, 2012
Seadrillreported that it is in advanced discussions for a new five-year contract for the drillship West Polaris. This new agreement will start in direct continuation of the existing assignment which is scheduled to be completed in October.
The drillship is currently contracted to France’s Total for work offshore West Africa. Total used the West Polaris to spud a well in the Nigeria and Sao Tome and Principe Joint Development Zone’s Block 1 in March.
The potential contract revenue for the five-year period is valued at approximately $1.16 billion, with a final agreement expected in July.
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