abce certificate
New Articles
Friday, 05 December, 2008, 17:10 GMT | more >>

Job shuffle for Atwood Hunter



By Upstream staff 

Atwood Oceanics has said that once the semi-submersible drilling rig Atwood Hunter finishes its current work for Woodside Energy off Libya, the contract will be suspended and the semisub moved to Egypt to start on a job for Burullus Gas.

The Woodside job is due to finish at the end of the month.

The Burullus contract is expected to take 140 days to complete, including mobilisation and demobilisation to the point of origin in the Mediterranean Sea, with dayrates of $320,000 for the first 90 days, $355,000 the next 35 days and $410,000 thereafter. The final dayrate is expected to be in force for 15 days.

Once the Egyptian work is done, the Woodside contract will be reinstated with the rig expected to be moved to Mauritania at a dayrate of $240,000.

Under the contract suspension agreement with Woodside, the remaining Woodside contract commitment will be reduced by a period equal to 50% of the days that the Atwood Hunter works under the Burullus contract up to a maximum of 70 days.

Before the contract suspension, the Woodside contract term was expected to be completed in May 2008.

Atwood said that, assuming the rig works for Burullus for the expected 140 days, the Woodside contract commitment will be extended 70 days to August 2008.

The company added that the Woodside contract provides for two six-month options at day rates to be mutually agreed.

An agreement for Woodside to use the rig beyond its current commitment must be executed by 15 December.


Thursday, 16 August, 2007, 08:53 GMT  | last updated: Thursday, 16 August, 2007, 08:53 GMT

Ready for action: the Atwood Hunter
 

e-mail this article to a colleague


to email:  from:
comments: