Buccaneer announced that Archer Drilling has been selected as the preferred operator of the Adriatic XI. This selection comes after a competitive tender process in which Archer demonstrated significant experience and expertise in operating a large number of onshore and offshore rigs and platforms.
KOV will now proceed and negotiate individual contracts with Archer to:
In the interim, Archer has already mobilized a team onto the Adriatic XI at its cold stacked location to commence detailed engineering scoping work to finalize shipyard modification budgets and scheduling.
In 2008, Archer's wholly owned subsidiary Rig Inspection Services completed inspections and engineering scoping work on the Adriatic XI on behalf of its current owner.
This proposed scoping work is expected to take approximately 21 days to complete.
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