Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Saudi Aramco Books Gig with West Callisto Jackup

change text size

Seadrill has signed a contract with Saudi Aramco for employment of the jackup rig West Callisto (400' ILC) offshore Saudi Arabia. The contract duration is a minimum of three years plus an option for a one year extension. The potential revenue for the three year period is approximately $164 million plus a $20 million mobilization fee to cover various upgrades, dry tow vessel expenses and dayrate in the mobilization period. The West Callisto is currently operating in Southeast Asia and is scheduled to finalize its existing work scope in August 2012. The unit will subsequently commence its transit to the Middle East and is scheduled to start operations for Saudi Aramco in September 2012.

Alf C Thorkildsen, CEO in Seadrill Management AS, commented, "We are delighted to have signed our first contract with Saudi Aramco for operation in Saudi Arabia. This award complements our growing jackup operations in the region which will increase from two to five units this year. We continue to see a strong demand for premium jackup rigs and expect to improve our earnings visibility for this asset class going forward."

Related Companies
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 www.riglogix.com.

Most Popular Articles
From the Career Center
Jobs that may interest you
Field Service Technician Gulf of Mexico
Expertise: Field Service Tech, Maintenance Technician, Mechanic
Location: Broussard, LA
 
Project Director - Offshore Floating Prodcution Platforms
Expertise: Engineering Manager, Mechanical Engineering, Project Management
Location: Houston, TX
 
Level II Inspector
Expertise: NDT Technician, Pipe Inspection / NDT, QA / QC / Inspection
Location: Broussard, LA
 
search for more jobs