Smedvig Gets Drilling Contract

Friday, March 01, 2002
Unocal Thailand Ltd. has issued a letter of intent to Smedvig Asia Ltd. for the assignment of the self-erecting tender rig T-4. The production drilling assignment has a duration of five years, and the contract value is estimated at approximately $73 million. The contract includes an incentive arrangement that could increase the contract value. The proposed contract includes early termination provisions after three years against payment of an early termination fee. T-4 is currently working under a drilling contract for Unocal Thailand until mid-December 2002. Thereafter the rig is scheduled for a four months extensive upgrading and classification survey, before it starts up under the new contract in April 2003.

The upgrade represents a major improvement of the T-4 capabilities and includes widening of the barge, installation of new heavy lift cranes and new derrick for off line activities. The upgrading costs are estimated at approximately $21 million.

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

Offshore

New Chemical Handling Service from Ferguson Group

Tank, Fluid Solutions and Bunded Storage for Dangerous Goods and Chemicals Introduced at Gap Ridge, Karratha.    Ferguson Group Australia, global specialist in offshore DNV 2.

InterMoor Completes Juniper Mooring Installation Contract

InterMoor has completed a mooring and foundation installation campaign for bpTT’s Juniper gas project offshore Trinidad and Tobago, reportedly the largest foundation

Boost for Offshore Wind Energy

As part of President Obama’s Climate Action Plan to create American jobs, develop domestic clean energy resources and cut carbon pollution, Secretary of the Interior

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Salvage Ship Repair Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1693 sec (6 req/sec)