Seadrill Gets $1.2B, Five-Year Contract for West Polaris

by Jon Mainwaring

Rigzone Staff

Monday, June 04, 2012

2012 Hurricane Season Predicted to Breeze By'

Offshore deepwater drilling specialist Seadrill announced Monday that it is advanced discussions regarding a new five-year contract for the drillship West Polaris (UDW drillship). The potential revenue for this new contract is approximately $1.16 billion.

In a press statement, Bermuda-based Seadrill said the contract will start in direct continuation of its existing assignment that is scheduled to be completed in October 2012.

West Polaris is currently contracted to ExxonMobil and operating off the coast of Nigeria, according to a fleet status report issued by Seadrill on May 14. West Polaris has been contracted to Exxon since the summer of 2008, when it was first used by the firm for drilling off Brazil.

A final agreement for the new contract is expected in July.

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com.

WHAT DO YOU THINK?

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

anyanwu .a .theodore | Jun. 6, 2012

where is the ship going to drill, which country? nigeria stii?

Chidiebere Nwosu | Jun. 6, 2012

This is a move in the right direction, good and hope building news about the oil industry.

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