Chiles Offshore Signs Notice of Award for Rig Under Construction

Monday, May 21, 2001
Chiles Offshore Inc. today announced that it has executed a Notice of Award for a long-term contract by an affiliate of Phillips Petroleum for its ultra-premium jackup drilling rig the Chiles Discovery, currently under construction at the Keppel FELS Shipyard in Singapore. The Chiles Discovery is expected to be delivered from the yard during the second quarter of 2002, and is scheduled to commence work prior to the end of June 2002 in Phillips' Bayu Undan Gas Recycle Project, located in Area A of the Timor Gap Zone of Cooperation between Australia and East Timor.

The contract is expected to last for a minimum of 600 days (15 wells).

Phillips will have options to extend the contract for up to an additional five wells (estimated up to 200 days). Assuming work is performed under the contract for 600 days, contract revenues will approximate $60 million, exclusive of mobilization and de-mobilization fees.

According to William Chiles, president and CEO: "The Chiles Discovery is the first ultra-premium jackup drilling rig to be delivered of the two we currently have under construction in Singapore and Brownsville, Texas, respectively. Both of these ultra-premium jackup rigs are of the KFELS Mod V 'B' design which will incorporate some of the new 'state-of-the-art' technologies including large mud pumping capacity, 70 ft. extended cantilever, large drilling fluid storage capacities, digital drilling controls and automatic pipe-handling equipment."

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Sales

New Ships Meet 2020 Design Standard

A new CE Delft study has revealed that many recently constructed ships already meet the International Maritime Organization’s (IMO) design efficiency standard for 2020, says Pan European Networks.

Cosco Corp Profit Down

Cosco Corporation (Singapore) Limited, offshore marine engineering, shipbuilding, ship repair & conversion and dry bulk shipping group, has posted a net profit of SGD4.

Recent Vessel Sales: April 2015

Vessel sales for April 2015 - (as of May 1) as prepared by Shipping Intelligence, Inc., New York.   Date Reported - Vessel Name - DWT - Built - (Age) - Price

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1265 sec (8 req/sec)