Ocean Rig lands new gig for Poseidon drillship
- Business & Finance
Offshore drilling contractor Ocean Rig has signed a new drilling contract with Tullow Namibia for a one-well drilling program plus options for drilling offshore West Africa.
The contract is expected to start in the third quarter of 2018 and to be performed by the Ocean Rig Poseidon drillship, Ocean Rig said on Monday.
The rig owner has not revealed further details about the rig’s contract with Tullow.
Pankaj Khanna, President and Chief Executive Officer of the Company, commented: “We are pleased to announce additional work for the Ocean Rig Poseidon. The rig is currently transiting to Walvis Bay, where it will remain in “ready-to-drill” state and continue to be actively marketed for employment.”
The 6th generation deepwater drillship, of a Saipem 10000 design, was built in 2011 by the Samsung Heavy Industries Shipyard in South Korea. The rig has dual activity capabilities and is equipped for drilling operations in water depths from 500 to 3,000 meters.
The 228-meter long and 42-meter wide Ocean Rig Poseidon is a DP Class 3 rig that can accommodate 205 people.
Ocean Rig recently said in its 4Q 2017 results that despite the rise in oil prices, the worst might still not be over for some offshore drillers.
The company recorded net income of $79.4 million for the three-month period ended December 31, 2017, as compared to a net loss of $3.7 billion in the third quarter of 2016.
Offshore Energy Today Staff