North Atlantic Drilling has received a letter of intent from ExxonMobil for assignment of the harsh environment semisubmersible drilling unit West Alpha (mid-water semisub). The extension has a firm period of two years with an estimated revenue value of $410 million. Commencement of operations under the contract extension is expected in the third quarter of 2014, in direct continuation of the next assignment for West Alpha on the Balder field. Consequently, West Alpha has secured firm contracts that will keep the rig employed to third quarter 2016.
The customer has an option to extend the contract with one additional year at the same terms as for the first two years.
Seadrill has a 74 percent ownership interest in North Atlantic Drilling Ltd.
WHAT DO YOU THINK?
Click on the button below to add a comment.
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.
Most Popular Articles
From the Career Center
Jobs that may interest you