Seadrill has secured an unconditional Letter of Award for contracts with a total revenue potential of approximately $4.1 billion over 18 rig years for three newbuild deepwater units with Petroleo Brasileiro S.A.
The three drilling rig contracts' terms and potential revenues are:
West Eminence
The sixth generation, deepwater semisubmersible drilling rig is under construction at Samsung shipyard in South Korea. The rig will be delivered during 4Q 2008 and start-up of operations offshore Brazil is scheduled for 1Q 2009. Contract duration is six years, and contractual water depth is 2,400 m (7,874 ft). Including mobilization fee and 5% performance bonus, the total revenue potential is $1.35 billion.
West Taurus
The sixth generation, deepwater semisubmersible drilling rig is under construction at the Jurong shipyard in Singapore. The rig is scheduled to be delivered during 4Q 2008, and start-up of operations offshore Brazil is scheduled for 1Q 2009. Contract duration is six years, and contractual water depth is 2,400 m (7,874 ft). Including mobilization fee and 5% performance bonus, the total revenue potential is US$1.42 billion.
West Orion
The sixth generation, deepwater semisubmersible drilling rig is under construction at the Jurong shipyard in Singapore. The rig is scheduled to be delivered during 2Q 2010, and start-up of operations offshore Brazil is scheduled for 3Q 2010. Contract duration is six years, and contractual water depth is 2,400 m (7,874 ft). Including mobilization fee and 5% performance bonus, the total revenue potential is $1.35 billion.
Including the three drilling units mentioned above, Seadrill's newbuild deepwater drillship West Polaris is scheduled to begin its drilling assignment offshore Brazil in 3Q 2008.
The three drilling rig contracts' terms and potential revenues are:
West Eminence
The sixth generation, deepwater semisubmersible drilling rig is under construction at Samsung shipyard in South Korea. The rig will be delivered during 4Q 2008 and start-up of operations offshore Brazil is scheduled for 1Q 2009. Contract duration is six years, and contractual water depth is 2,400 m (7,874 ft). Including mobilization fee and 5% performance bonus, the total revenue potential is $1.35 billion.
West Taurus
The sixth generation, deepwater semisubmersible drilling rig is under construction at the Jurong shipyard in Singapore. The rig is scheduled to be delivered during 4Q 2008, and start-up of operations offshore Brazil is scheduled for 1Q 2009. Contract duration is six years, and contractual water depth is 2,400 m (7,874 ft). Including mobilization fee and 5% performance bonus, the total revenue potential is US$1.42 billion.
West Orion
The sixth generation, deepwater semisubmersible drilling rig is under construction at the Jurong shipyard in Singapore. The rig is scheduled to be delivered during 2Q 2010, and start-up of operations offshore Brazil is scheduled for 3Q 2010. Contract duration is six years, and contractual water depth is 2,400 m (7,874 ft). Including mobilization fee and 5% performance bonus, the total revenue potential is $1.35 billion.
Including the three drilling units mentioned above, Seadrill's newbuild deepwater drillship West Polaris is scheduled to begin its drilling assignment offshore Brazil in 3Q 2008.