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Tuesday, January 23, 2018

Tender Rig News

Smedvig to Build New Tender Rig in Southeast Asia

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.

Seadrill Offshore Services Links With Malaysia's SDRL

SapuraKencana Petroleum Berhad (SDRL)  & Seadrill Limited  sign MOU to integrate their tender rig businesses. The new and restructured tender rig business will mark a new phase of cooperation between the two companies. In addition SapuraKencana will also be offered the right to be the manager for three further tender rigs which are not part of the transaction. These rigs, West Vencedor, T-15 and T-16, are today either owned or planned to be owned by Seadrill Partners LLC and are therefore not included in the transaction. The operating rigs and the new-builds are all currently contracted under long-term fixed price contracts with companies such as Chevron, Shell, PTTEP, and Petronas Carigali. The total order backlog amounts to USD 1.55 billion as of end of October 2012.

KHZ To Buy Semisubmersible

Keppel Hitachi Zosen Limited (KHZ) is in discussions with Smedvig Asia regarding the latter's intention to exercise its option to purchase KHZ's interest in the semi-submersible tender rig, West Alliance, presently under construction in Keppel Shipyard. The purchase price is approximately $61.5 million. Smedvig has proposed to exercise the option after delivery of the tender rig and after commencement of operations under its drilling contract with Esso Malaysia, which was secured recently and is for a period of one year plus one optional year. Smedvig has announced that start-up of drilling operations is scheduled for early November this year. The construction of West Alliance is proceeding according to schedule.

Smedvig Asia To Exercise $61.5 Million Rig Purchase

Keppel Hitachi Zosen Ltd said on Friday that Smedvig Asia intends to exercise its option to purchase the Singapore ship repair specialist's interest in a tender rig for $61.5 million. Keppel Hitachi said in a statement that Smedvig, a unit of Norway's Smedvig ASA, proposed to exercise its option after delivery of the semi-submersible tender rig West Alliance and after commencement of drilling operations.

COSCO Deliver Offshore Tender Rig 'T-15'

COSCO Corporation (Singapore) subsidiary COSCO (Nantong) Shipyard Co., Ltd deliver a tender rig to Seadrill. The tender rig is designed to be placed in close proximity to an oil platform in order to assist in drilling operations. The new delivery is named 'T-15', and the delivery documents were signed by and between COSCO Nantong and Seadrill on 18 December 2012.

Seadrill Secures Two New Tender Rig Contracts

Seadrill has been awarded a contract by Chevron for extension of the production drilling assignment for the self-erecting tender rig T4. The contract extension has a duration of five years. The estimated contract value is approximately $156m. The commencement of the new contract is scheduled for second quarter 2008 following a five-year survey after completion of the current contract. T4 is currently operating offshore Thailand. The self-erecting tender rig T11 currently under construction at MMHE in Malaysia has been awarded a five-year contract by Chevron for operations in Thailand. The contract is expected to commence in July 2008 following delivery from the yard. The estimated contract value is $203m.

Keppel Wins $534m in Rig Contracts

The new tender rig is an enhancement of the proprietary KFELS SSDT 3600 design rigs, West Setia (seen here) and West Berani, which Keppel FELS has designed and built for Seadrill Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Corporation Limited, has secured two rig contracts amounting to $534m. The contracts are for the construction of a drilling-cum-production jackup rig and a deepwater drilling tender rig. Both rigs will be built to Keppel’s proprietary design. The first contract, worth $400m, is for the third KFELS N Class jackup rig for Skeie Drilling and Production, a member of the Skeie Group. The new rig is expected to be delivered in the 4Q of 2010. “Having three KFELS N Class orders in less than half a year is strong endorsement for this innovative design.

China COSCO Yards Deliver Tender Rigs, Capesize Bulk Carrier

COSCO (Nantong) Shipyard deliver two tender rigs, & COSCO (Zhoushan) Shipyard a Capesize bulk carrier. COSCO (Nantong), a subsidiary of the Company's 51% owned COSCO Shipyard Group Co., Ltd, has delivered two tender rigs "T-16" and "T-17", to Seadrill. The delivery documents were signed by and between COSCO Nantong and Seadrill recently. At almost the same time COSCO announced that COSCO (Zhoushan) has delivered a bulk carrier of 82000 dwt, "DL DAHLIA", to its Asian buyer. The dimensions of the new ship are: 229 meters in LOA and 32.26 meters in breadth. COSCO inform that the delivery documents were signed by and between COSCO Zhoushan and the buyer on 28 May 2013.

Seadrill Gets Contract Extensions

Seadrill has been awarded a contract by Total for extension of the production drilling assignment for the self-erecting semi-tender rig West Menang. The contract extension has a duration of three years. The estimated contract value is approximately $126 million. The commencement of the new contract is scheduled for January 2008, in direct continuation of the existing contract. West Menang is currently operating offshore Congo, West Africa. The self-erecting tender rig T8 has been awarded a one year contract extension by Total. The contract is expected to commence in May 2007, in direct continuation of current contract commitments. Estimated contract value is $ 31 million. Total has an option to further extend the contract by one year, at mutually agreed terms.

Keppel Hitachi Zosen Delivers Semi-tender Rig

Keppel Hitachi Zosen (KHZ) has delivered a Semi-Submersible Self-Erecting Tender Rig (SSETR) to Smedvig Asia Ltd (Smedvig). The SSETR was named West Alliance by Mrs. Patricia Chan, wife of Mr. Chan Heng Wah, Drilling Manager of Esso Production Malaysia Inc, at a naming ceremony held in Keppel Shipyard on September 29, 2001. West Alliance has a one plus one optional year drilling contract with Esso Malaysia, which is scheduled to commence in early November this year. Following the exercise of its option, Smedvig will own 100 per cent of West Alliance, and bring the total capital expenditure of the rig to about $85 million. West Alliance represents the newest generation of SSETRs, incorporating the latest technology and equipment.

Smedvig Secures New Tender Rig Contract

Smedvig has been awarded a letter of intent by Total Congo for the self-erecting tender rig T-8. The drilling assignment in Congo, West Africa, has a firm duration of 105 days, with options for an additional 300 days. The estimated contract value for the firm period is US$ 5.1 million. In addition, the contract includes a mobilization/demobilization fee of US$ 4 million. Start-up under the new contract is scheduled for the second quarter 2004, following a five year mandatory survey.

Chinese Shipyard COSCO Gets Order for Offshore Drill Rig

COSCO (Nantong) Shipyard Co. Ltd., a subsidiary of  COSCO Shipyard Group Co. Ltd., has secured a contract with SEADRILL to construct a self erecting tender drilling rig T18 valued at USD 75 million, excluding owner furnished drilling equipment. The new drilling rig, T18, when completed, will be equipped with enhanced drilling capabilities allowing for higher drilling efficiency including the advantage of a light weight drilling equipment set. The rig is capable to drill at 6,500 feet and a drilling depth capacity of 20,000 feet. SEADRILL has now exercised the last of the options awarded by COSCO. SEADRILL was awarded altogether two options (over T17 and T18) in February 2011 when T15 and T16 were contracted. The option over T17 was exercised in April 2011, as announced on 13 April 2011.

Construction of Mermaid Ausana Begins

Key executives from Mermaid and China Merchants at the steel cutting ceremony.

Mermaid Maritime Public Company announced that it has marked the start of its new vessel / rig construction by participating in a steel cutting ceremony for its performance class tender rig ‘MTR-3’ and DP2 multipurpose subsea dive support and construction vessel ‘Mermaid Ausana’. The ceremony took place at the shipyards of China Merchants Heavy Industry in China in Nantong and Shenzhen, respectively. The ‘MTR-4’, which will be identical to the ‘MTR-3’, is scheduled to have its steel cutting ceremony two months later.

Smedvig to Build New Semi-Tender

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 Secures Contract for T-9 in Malaysia

The tender rig T-9, in which Smedvig owns 49 percent, has been awarded a contract extension by ExxonMobil in Malaysia. The production drilling assignment has a duration of three years. Commencement of operations is scheduled in mid-January 2006, in direct continuation of the existing contract. The estimated contract value is approximately $66 million. ExxonMobil has the right to terminate the contract after one year.

Smedvig Secures Contract for the Newbuild T-10

Smedvig has been awarded a letter of intent by Carigali Triton in Malaysia for the self-erecting tender rig T-10, currently under construction in Malaysia. The production drilling assignment has a duration of approximately three years, and the contract value is estimated to US$ 84 million. Commencement of operations is scheduled subsequent to delivery at the end of the second quarter 2007.

Seadrill Record Best-ever Quarterly Result

Jack-up Rig West Ariel: Photo credit Seadrill

Seadrill announces favourable first quarter 2013 financial results. •    Seadrill completes the sale of 18 tender rigs to SapuraKencana Petroleum Bhd. As of March 31, 2013, cash and cash equivalents were US$361 million, an increase of US$43 million compared to the previous quarter. Net cash from operating activities for the period was US$423 million and net cash used in investing activities for the same period was US$1,074 million, primarily related to additional payments for newbuilds and the acquisition of the Songa Eclipse.

Keppel, Smedvig Cooperate on New Drilling Tender

Keppel FELS Limited has entered into a cooperation agreement with Smedvig Asia Limited (Smedvig Asia) to build a Semisubmersible Drilling Tender (SSDT) with Keppel Offshore & Marine’s proprietary design. Developed by the Deepwater Technology Group (DTG), the KFELS SSDT3600-GOM-C42 will be the fourth vessel in the series of successful SSDTs that have been gainfully deployed in this region. Valued at $94 million, Keppel FELS and Smedvig Asia will own and operate the ultra deepwater semi tender on a 72/28 basis respectively. The newbuild is due for completion in the third quarter of 2005.

Keppel Shipyard To Build Semi-Tender For Smedvig

Keppel Shipyard entered into a co-operation agreement with Smedvig Asia recently to build a Semi-Submersible Self-Erecting Tender Rig (SSETR), a contract with a total estimated worth of $82.5 million, $59.5 million of which is Keppel’s share. For its part, Keppel Shipyard will build and own the semi-submersible hull, while Smedvig owns the derrick equipment set. 10-year period. It can also purchase the semi-submersible hull within this time frame. increased deckload and mooring for deeper water. capitalize on the present lower cost of construction, said Nelson Yeo, Executive Director of Keppel Hitachi Zosen.

Keppel Divests Stake in Ultra Deepwater Tender Rig

Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), will divest its entire 72 percent interest in the rig, West Berani, to SeaDrill Asia Limited (SeaDrill Asia) for approximately $72m. This divestment follows the completion of the semisubmersible drilling tender (SSDT), which was delivered on time today. In May 2005, Keppel FELS entered into an agreement with SeaDrill Asia, formerly Smedvig Asia, to own and operate the SSDT on a 72/28 basis respectively. SeaDrill Asia had the option to exercise Keppel FELS’ interest in the rig upon completion. This is the fifth deepwater tender drilling rig that Keppel has built for SeaDrill Asia since 1994.

Keppel FELS Delivers West Atlas

Keppel FELS has delivered the third KFELS B Class design jackup drilling rig to Seadrill within budget and ahead of schedule. This rig was named West Atlas by Lady Sponsor Anne-Marie Hood, wife of Mr. Peter Hood, Executive Director - Chief Executive Officer of Coogee Resources Limited. He also graced the ceremony as Guest-of-Honor. According to Keppel, West Atlas is the third KFELS B Class rig that Keppel FELS has delivered to Seadrill. The first rig, West Ceres (ex-Seadrill 3), was delivered to Seadrill in April 2006 and the second, West Prospero, was delivered in June 2007. Keppel FELS is building one more KFELS B Class jackup rig and a semisubmersible drilling tender rig for Seadrill.

Seadrill Rig Contract Extended

West Epsilon Rig: Photo credit Seadrill

Seadrill - North Atlantic Drilling Ltd. announces extension of Statoil contract for the harsh environment jack-up rig 'West Epsilon'. North Atlantic Drilling Ltd., a majority owned subsidiary of Seadrill Limited, announce that Statoil has exercised its option to extend the contract for the heavy-duty harsh environment jack-up rig West Epsilon by two years from December 2014 to December 2016. The estimated value of the contract extension is US$215 million. Seadrill is a leading offshore deepwater drilling company…

Seadrill Q3 2013 Profit Slips Marginally

Drillship: Image courtesy of Seadrill

In its third quarter 2013 financial report, Seadrill states consolidated revenues were US$1,280 million compared to $1,268 million in the second quarter of 2013, and operating profit for the quarter was US$471 million compared to US$507 million in the preceding quarter. Seadrill explains that the decrease in operating profit is a result of higher operating expenses due to new rigs entering the fleet and higher general and administrative expenses due to the consolidation of Sevan Drilling.

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