GSP Saturn Rig Spuds Its First North Sea Well (The Netherlands)

GSP Offshore, a company based in Romania, announced that its GSP Saturn jack-up rig on Tuesday began the drilling operations in the Dutch Sector of the North Sea under the contract with Wintershall Noordzee B.V.

GSP Saturn will operate under the current contract, signed in March 2012, for an initial 12 months interval. This is GSP’s first drilling contract in the North Sea.

In 2009, GSP concluded an extensive upgrade and reclassification project of the rig with a budget of approximately 70 USD million. The scope of work consisted in improving the platform technical specification and class re-certification.

Stuart Oakley, the recently appointed, GSP’s CEO said in March: “This contract marks the arrival of GSP in the North Sea market, in addition to our existing markets of the Black Sea, the Mediterranean, the Russian Federation and Mexico. Working from our established offices in Rotterdam and Aberdeen we anticipate further growth of our share of this market, and plan to bring additional assets to meet the North Sea demand.”

Offshore Energy Today Staff, June 8, 2012