Island Drilling secures another UK contract for its semi-sub rig

Offshore rig owner Island Drilling has secured a new drilling contract for its semi-submersible rig for work in the UK.

Island Drilling said on Tuesday it has signed a contract with Dana Petroleum to provide the Island Innovator drilling unit and associated services for a work program in the UK. The beginning of the contract is scheduled for April 2023.

The work is for three firm and one optional well. The firm work is estimated to be 80 days and the optional work is estimated to be 30 days. The total contract value is estimated at $30 million.

This is the second contract Island Drilling has signed with Dana Petroleum in the UK. The previous one was awarded back in late October 2021 and completed in July 2022.

Island Drilling CEO, Roger Simmenes, commented: “Dana Petroleum was our first customer after a long yard stay during Covid. Even after the layup period, the operation was very efficient and we take this as a complement to our excellent crew and their performance.

“We are very pleased to be selected by Dana once again. It is our opinion the operators see that our type of rig gives the operator the best total cost of ownership.”

Following a contract award in March 2022, the Island Innovator is currently working on the Gazania-1 well in South Africa for Eco Atlantic.