Eni Hires Sedco Express Rig for $360 Mln (Nigeria)

Eni Hires Sedco Express Rig for $360 Mln (Nigeria)

Transocean, one of the world’s largest drilling contractors yesterday announced it has secured a 20-month contract for its Sedco Express rig. The contract value is estimated at $360 million.

The Swiss-based rig owner revealed that the deepwater semisubmersible rig will work for Italy’s oil giant Eni, at a dayrate of $600,000 and will be deployed in Nigerian waters starting February next year.

Sedco Express is currently under contract with Noble Energy in Israel, working at the country’s Leviathan and Tamar offshore fields at a dayrate of $500,000.

According to the owner, the Sedco Express-class rigs are estimated to be capable of reducing total well construction time by at least 25% and total well construction cost up to 30%.

Offshore Energy Today Staff, October 18, 2012