Pacific Drilling, a Luxembourg-headquartered owner of ultra-deepwater drillships, has announced that one of its drilling units has begun its contract in the U.S. Gulf of Mexico.
The drillship in question, the Pacific Sharav, yesterday started its contract with the California-based oil major Chevron.
The contract is for five years with estimated maximum contract revenue at approximately $1 billion.
The Pacific Sharav, delivered in May 2014 by Samsung Heavy Industries in South Korea, is capable of operating in water depths of up to 12,000 feet and drilling wells up to 40,000 feet deep.