Transocean Sedco Forex Receives Contract Awards

Friday, January 25, 2002
Transocean Sedco Forex Inc. announced that it has been awarded contracts for two high specification floating drilling rigs and has received a contract extension on a third high-specification floating drilling rig. The semisubmersible Sovereign Explorer has been awarded a one-year primary term contract from Amerada Hess Corporation through its Triton Equatorial Guinea, Inc. business unit for drilling operations offshore Equatorial Guinea. The one-year contract, which provides for a one-year extension period, is expected to commence in early March 2002, following mobilization of the rig from the North Sea. Revenues expected to be generated over the one-year contract period, excluding mobilization and demobilization fees, could total approximately $33 million. An additional revenue opportunity is available should the rig be utilized in water depths exceeding 3,000 feet. The semisubmersible Sovereign Explorer is capable of drilling in water depths of up to 5,000 ft.

In addition, the deepwater drillship Discoverer 534 has been awarded a two-well, estimated 60-day contract from Reliance Industries Limited in India. The drillship is expected to begin mobilizing from the U.S. Gulf of Mexico in late January 2002 and commence drilling operations offshore India by early-April. Revenues expected to be generated over the estimated 60-day contract period, excluding mobilization and demobilization fees, could total approximately $8 million. Delivered in 1975 and significantly upgraded in 1991, the Discoverer 534 is a dynamically positioned drillship capable of drilling in water depths of up to 7,000 feet. Finally, the arctic-class semisubmersible Polar Pioneer has received a six-month contract extension from Norsk Hydro to continue drilling operations offshore Norway. The semisubmersible, which has worked for Norsk Hydro in Norway since its delivery in 1985, is now contracted until February 2003. Revenues expected to be generated over the six-month contract extension could total approximately $24 million.

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

Contracts

Samsung Heavy Takes Up 7 Container Ship Order

South Korea's Samsung Heavy Industries said on Wednesday that it is proceeding with a project worth 642.9 billion won ($617.67 million) to build seven container ships as planned.

South Stream Gas Pipeline Re-route via Turkey Possible

Turkish Energy Minister Taner Yildiz said on Wednesday that Ankara would consider the passage of the South Stream natural gas pipeline through Turkey if Russia made such a request.

China Shipyard Delivers Handymax Size Bulk Carrier

COSCO Corporation (Singapore) inform that its Dalian Shipyard in China has delivered a bulk carrier of 57000 dwt, named "GUOTOU 108", to its Asian buyer. The Handymax bulker measures 189.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators Sonar Winch
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: 0.0932 sec (11 req/sec)