Smedvig to Build New Tender Rig in Southeast Asia
Smedvig has entered into an agreement with Malaysia Marine & Heavy Engineering Sdn Bnd in South Malaysia for the purpose of building a new self erecting tender rig, T-10. The new barge unit is scheduled for delivery at the end of the second quarter 2007, and capital expenditure is estimated to approximately US $89 million, including the derrick equipment set, where Smedvig's ownership share is 49 percent.
The tender rig will be based on a similar but improved design and specification as Smedvig's T-9, with enhanced drilling capabilities allowing for parallel activities and significantly increase drilling efficiency. The new unit will be particularly well suited for production drilling in shallow and deepwater areas in Southeast Asia.
Smedvig has also been awarded a letter of intent by Carigali Triton in Malaysia for the self-erecting tender rig T-10. The production drilling assignment has a duration of approximately three years, and the contract value is estimated to US $84 million. Commencement of operations is scheduled subsequent to delivery at the end of the second quarter 2007.
- Seadrill Takes a Financial Hit from Contractor Investments (Feb 23)
- Endeavour Enters $40 Million Strategic Investment with Smedvig (Dec 26)
- Smedvig is History, from Today It's Seadrill (Jun 01)
Company: Malaysia Marine & Heavy Engineering Sdn Bnd more info
- MHB MD/CEO Abu Fitri Abdul Jalil Leaves Company After Recall by PETRONAS (Mar 30)
- Malaysian-French Engineering for Petronas Projects (Jun 27)
- Petronas Awards 15 Contracts to Local Fabricators for Malaysian Projects (Oct 23)