Tender Rig Operator News

Smedvig has entered into an agreement with Keppel Shipyard in Singapore for the purpose of building a new semi-submersible self-erecting tender rig (semi-tender). Total capital expenditure for the new semi-tender is estimated at $ 94 million, of which Smedvig's share is approximately $ 29 million. The agreement with Keppel Shipyard is based on the principle that Keppel shall build and own the the semi-submersible hull, and Smedvig shall own the derrick equipment set. Smedvig shall for a period of ten years be responsible for marketing, management and operation of the unit. The agreement includes an option for Smedvig to purchase the semi-submersible hull during the ten-year period at a pre-agreed price.

Smedvig has entered into an agreement with Malaysia Shipyard and Engineering Sdn Bnd in South Malaysia for the purpose of building a new self erecting tender rig. including the derrick equipment set. which will significantly increase drilling efficiency. and deepwater areas in Southeast Asia. Smedvig.