Edison, Ina joint venture hires Crosco jack-up rig

EdIna, a joint venture company between Italian energy company Edison and Croatia’s Ina, has reportedly hired a jack-up drilling rig from drilling and well services contractor Crosco, a subsidiary of Ina.

Labin rig; Image source: Crosco

According to Bassoe Analytics, the Crosco’s Labin jack-up rig was hired for a period of 45 days.

The data provided claimed that the hiring of the rig was agreed on Monday, November 18.

The rig will begin working for EdIna on February 20, 2020, and complete its contract on April 5, 2020. The Labin will work on an estimated dayrate of $65,000, which means that the estimated size of the contract could be around $2.9 million.

According to the latest AIS data provided by VesselsValue, the rig is located off the Croatian city of Pula.

As for the rig, Labin was built at the Viktor Lenac shipyard in Croatia in 1985. It is of a Levingstone 111-C cantilever type design with major upgrades done in 2003/04 and 2014/15.

It is worth stating that the EdIna joint venture company was created at the beginning of the 2000s. In 2014, the joint venture company started gas production from the Isabella gas field in the northern part of the Adriatic Sea.

Ina told Offshore Energy Today via email that the Labin rig was currently undergoing class renewal. Following the class renewal procedure, Labin will start drilling a well on the Isabella field in the second quarter of 2020.

Offshore Energy Today Staff

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