Transocean Sedco Forex Awarded Contracts

Thursday, October 11, 2001
Transocean Sedco Forex Inc., announced that it has been awarded new contracts for its high-specification semisubmersible rigs Cajun Express and Sedco Express.

The Cajun Express has been awarded a one-well, estimated 40-day contract from Ocean Energy Inc. for ultra-deepwater drilling operations on the company's South Titan prospect located in approximately 6,200 feet of water in the U.S. Gulf of Mexico. The contract should commence following the completion of the rig's current drilling assignment with Ocean Energy in the U.S. Gulf of Mexico. Revenues to be generated over the estimated 40-day contract period could total approximately $6 million.

The Sedco Express has been awarded a three-well, estimated 130-day contract from a unit of BP for drilling operations in the Eastern Mediterranean offshore the coast of Egypt in waterdepths between 2,600 feet and 3,280 feet. The contract, which also provides for three additional wells to be drilled at BP's election, is expected to commence in early November 2001 following an expected 20-day mobilization of the rig from the Canary Islands that began today. Revenues to be generated over the firm, three-well, estimated 130-day contract period could total approximately $12 million.

The Cajun Express and Sedco Express are dynamically positioned, high-specification semisubmersibles rated to drill in water depths of up to 8,500 feet and 7,500 feet, respectively. The rigs possess a unique configuration of drilling equipment with automated, dual pipe-handling and racking machines, designed to reduce total well construction time by up to 25%.

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

TEPNG Integrates AVEVA Engineering & Design

AVEVA announced that TOTAL E&P Nigeria Ltd. (TEPNG) has adopted AVEVA’s Engineering & Design solutions as part of an Integrated Engineering & Design approach. TEPNG

McDermott Signs Agreement for North Sea Spoolbase

McDermott International, Inc. announced that one of its subsidiaries has signed an option agreement with PD Ports which gives it the exclusive right to operate

Latest Shipbuilding Contracts Include VLCC Order for Philippine Yard

In the latest Clarkson Hellas S&P Weekly Bulletin newbuilding orders are reported in Far East shipyards for a range of vessels as follows: Bulk carriers Clarkson

Finance

Commodity Giant Steps out of the Shadows

A detailed new case study scrutinizing the risk-management Swiss-based Trafigura is the latest effort to "demystify" the once-secretive commodity trading industry,

Blackstone Unlikely to Enter Commodities Trade

Blackstone exec doesn't expect move into commodities in near term Blackstone Group LP is unlikely to make a foray into commodity trading in the short term as

Ex-BP Employee Settles Insider-trading Oil Spill Case

A former 20-year veteran of BP plc who oversaw the company's cleanup efforts from the Deepwater Horizon oil spill will pay more than $224,000 to settle civil charges

 
 
Maritime Contracts Maritime Standards Navigation Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1491 sec (7 req/sec)