Essar Oilfields Purchases Semisub for $221 Million

Essar Oilfields Services Ltd. (EOSL), a subsidiary of Cyprus-based Essar Shipping & Logistics Ltd., has taken delivery of the Transocean Wildcat for US$221 million. The rig was purchased form Vildkat Holdings (Cayman) Ltd. The acquisition is in line with EOSL's plans to gain a significant presence in the contract drilling sector.

The rig will be christened 'Essar Wildcat'. The company took the delivery of the rig in the UK.

Essar Wildcat is an anchor moored, self propelled drilling rig suitable for deployment in water depths of 1350 ft and can be upgraded for deeper waters. The rig has a drilling depth capacity of 25,000 ft. The rig is equipped with top drive, automatic pipe handling systems and rough weather BOP launch system.

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