Ensco wins jack-up rig contract in Malaysia

Ensco, a UK-based offshore drilling contractor, has secured a three-year contract for its ENSCO 52 jack-up rig.

The ENSCO 52 jack-up, of the F&G L-780 Mod IIC design was contracted with Murphy Oil company in Malaysia.

In its fleet status report issued Monday, Ensco revealed that the day rate for the contract was set in high $90.000s up from the previous day rate of mid $80.000s with the same client.

Furthermore, the rig owner used the opportunity to report on the rig’s safety record ENSCO 52 saying that the rig recently surpassed three years without a Recordable Incident.

Malaysia is Murphy Oil’s main asset base producing more than 40% of the company’s total 2013 net production.

Murphy holds majority interests in seven separate production sharing contracts (PSCs): Block K, Block H, Block P, SK 309, SK 311 and SK 314A, and three gas holding agreements in PM 311.

In 2013, Murphy’s Malaysia net production was about 86,000 boepd, and the company booked total proved reserves 125 MMBO and 406 BCF.

The U.S. based oil company is reportedly looking to divest around 30 per cent of its Malaysian assets. Industry players such as Japan’s Mitsubishi and Mitsui , India’s ONGC and Oil India, Vietnam’s Petrovietnam and Kuwait Petroleum Corporation have all reportedly shown interest in making a swoop for Murphy’s equity in Malaysia.