Malaysia's upstream oil and gas service provider Perisai Petroleum Teknologi Bhd revealed Wednesday that it has appointed Hercules Offshore, Inc. as drilling operations and maintenance manager of Perisai Pacific 101 (400' ILC) and Perisai Pacific 102 (400' ILC) jackups, both of which are now under construction at PPL Shipyard in Singapore.
Perisai’s wholly-owned unit Perisai Drilling Sdn Bhd entered into Management Agreements with Hercules Offshore Nov. 5 after the Malaysian firm and KCA Deutag mutually agreed to terminate a Master Services Agreement inked Nov. 16, 2012 for the latter's appointment as drilling operations and maintenance contractor of Perisai Pacific 101.
"The mutually agreed termination follows changing conditions and evolving circumstances affecting both parties. As such, the termination ceases both parties’ obligations and is without any liability subsisting on either party," Perisai said in an announcement on local stock exchange Bursa Malaysia.
Perisai said Perisai Pacific 101 is slated for completion and delivery in July 2014, while Perisai Pacific 102 will follow about a year later.
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