AOD Secures Contract Extensions for 2 Jackups with Saudi Aramco to 2019
Thailand-based Mermaid Maritime Public Co. Ltd. announced Friday that its associate Asia Offshore Drilling Ltd. (AOD) has secured a three-year contract extension from Saudi Aramco for the jackups AOD I (400' ILC) and AOD II (400' ILC), with the deals now expiring in June 2019 and July 2019, respectively.
The extensions for the jackups, which have been working for Saudi Aramco since 2013, will add approximately $225 million in contract backlog.
"Mermaid is pleased that AOD continue its long term relationship with Saudi Aramco," the company said in the press release.
Meantime, AOD is holding talks with Saudi Aramco to extend the current three year contract for AOD’s third jackup AOD III (400' ILC). The contract was due to expired in October.
AOD is a joint venture between Mermaid and Seadrill Ltd., with the former holding a 33.76 percent equity stake, while the latter owns the remaining 66.24 percent interest.
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