Perisai delays jack-up delivery

  • Exploration & Production

Malaysian Drilling contractor Perisai Petroleum has put off the delivery date of a new jack-up rig it ordered in 2013.

The company said on Thursday it had agreed with PPL Shipyard Pte Ltd to delay the delivery date of the Perisai Pacific 102 rig to a date no later than March 31, 2016.

The original delivery date for the Perisai Pacific 102 was April 30, 2015.

Perisai did not provide the reasons behind the decision. However, the company might be taking after its larger peers, such as Transocean or Atwood Oceanics, who also announced rig delivery delays this year.

Namely, at the time of low oil prices, and the oversupply of rigs in the market, the drillers are having a hard time securing new contracts at commercially attractive terms, as the oil companies cut their spending.

In response, the drilling contractors opt for keeping the newbuilds in the shipyard, waiting for the market to recover.

Offshore Energy Today Staff

 

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