Norway: Seadrill Gets LoA for Semi-Sub Rig. Backlog Now at USD 13.3 bln

Seadrill, a Norwegian-Bermudan offshore drilling company with worldwide operations, has received a letter of award for a new three year contract for a semi-submersible rig.

The contract comes from a reputable oil company and the potential contract is for operations offshore West Africa. The contract is scheduled to start in the second quarter 2013

The total potential contract revenue based on 97% utilisation is estimated to approximately USD 710 millions and includes a performance bonus arrangement. The letter of award is subject to final approval by the charterers Board to be lifted no later than May 16th.

Seadrill total order backlog is after this increased to approximately USD 13.3 billion.

[mappress]
Offshore Energy Today Staff, April 30, 2012