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2013 July 12   11:31

Seadrill secures contract for jack-up rig West Freedom

Seadrill Limited ("Seadrill") has secured a new contract for the LT-Super 116E jack-up rig West Freedom offshore Venezuela with Cardon IV Venezuela, an ENI SpA and REPSOL joint venture, said in the company's press release.

The contract is for a firm period of 30 months plus an option for a 6 month extension at mutually agreed rates. The potential revenue for the primary contract term is approximately US$222 million inclusive of an estimated $8.5 million of mobilization.  The West Freedom is currently operating in Qatar and will likely be available to commence its charter in late September 2013.

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