Coastal Contracts' Unit TML Seeks $5.65M in Damages from 2 Rig Builders



Reduced drilling activities have reduced demand for rigs, with data from Rigzone's RigLogix databases indicating that the worldwide rig utilization level was at 62.8 percent Oct. 8, down from 75.9 percent a year ago.

Separately, Singapore-based Energy Drilling Pte Ltd. reported Thursday that Thailand's PTT Exploration & Production International (PTTEPI) has issued a Letter of Intent to Award (LOI) to contract the EDrill-2 tender barge rig for a firm term of 18 months with an option period of 30 months.

PTTEPI intends to deploy the EDrill-2 for the Zawtika Development Drilling Campaign (Phase 1B + Infield Phase 1A + Phase 1C) offshore Myanmar. Under the contract, EDrill-2 will drill around 67 wells from 10 wellhead platforms in water depths of up to 525 feet (160 meters). Drilling will commence in mid-December, with EDrill-2 currently undertaking pre-mobilization inspections and third party equipment installations.


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