Seadrill Receives LOI for Semisub Newbuild

Seadrill has been awarded a letter of intent by an E&P operator in the Gulf of Mexico for the semisubmersible drilling rig West Sirius (Jurong 1). The contract has a firm duration of four years with the option for the operator to extend the contract to five or six years. Estimated contract value is approximately US$690 million, US$840 million or US$980 million, including mobilization, for the four, five or six year alternatives respectively.

West Sirius is currently under construction at Jurong Shipyard in Singapore and is scheduled for delivery in the second quarter 2008. To further enhance the drilling efficiency and the quality of the rig for operations in the Gulf of Mexico an additional investment of US$20 million will be made in this unit.

The letter of intent is subject to agreement of final contractual terms and conditions as well as the approval of the Board of Directors of the operator.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Well Monitoring Specialist
Expertise: WellSite Supervisor
Location: Houston, TX
Chief Mechanic (6th Gen Drillship)(Contract)
Expertise: Rig Mechanic
Location: Houma, LA
ET (Deepwater Drillship)
Expertise: Rig Electrician
Location: Houma, LA
search for more jobs

Brent Crude Oil : $51.46/BBL 0.61%
Light Crude Oil : $50.52/BBL 0.64%
Natural Gas : $2.83/MMBtu 5.35%
Updated in last 24 hours