Marine Link
Monday, September 26, 2016

R&B Falcon Lands Drilling Contracts for Semisubmersibles

August 23, 1999

R&B Falcon Inc. has been granted a contract by Petro-Canada, utilizing the fourth-generation semisubmersible Henry Goodrich for the development of the Terra Nova field offshore eastern Canada. The agreement with Petro-Canada provides for a firm two-year period commencing during the first quarter of 2000, following the unit's completion of its current drilling program with BP (BP) Amoco in the U.K. The total contract value amounts to an estimated figure of $74 million with Petro-Canada having the option to extend the primary term of the contract for up to an additional three years with rates to be determined based on a market mechanism. Additionally, the company announced that Arcade Drilling AS received a fixed term extension with BP Amoco through late July 2000 for Paul B. Loyd, Jr. BP expects to utilize both Loyd and Goodrich for drilling operations west of Shetland in the U.K., where the units are currently located.


Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News