Total Extends Contract for Sedco 714 Rig (UK)

One of the world’s largest drilling contractors, Transocean, has announced it has been awarded a contract extension for its Sedco 714 rig.

The award comes from Total E&P UK, a subsidiary of the French oil major Total.

Under the agreement the rig will continue its work for Total in the UK sector of the North Sea at a dayrate of $395,000 ($144 million contract backlog), for another year. The contract is expected to commence in December this year, upon expiration of the current contract.

The SEDCO 714 is a Sedco 711 design semi-submersible drilling unit capable of operating in water depths up to 1,800 feet using 18¾in 15,000 psi BOP and 21in OD marine drilling riser.

In April 2012 Total used Sedco 714 to drill a relief well as part of the company’s strategy to stop the Elgin G4 gas leak which occurred on March 25, some 240km off the coast of Aberdeen, UK.

Elgin G4 well was stopped by a successful well intervention operation on 15 May and has been stable ever since. Total has recently informed that it has been working hard to permanently secure the well by mid-September this year.

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Offshore Energy Today Staff, August 16, 2012