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Atwood Beacon heads to India
By
Russell Searancke
The fully-restored 400-foot water depth jack-up Atwood Beacon will begin its journey to India soon to carry out a 25-month job for Gujarat State Petroleum Corporation (GSPC).
The 2003-built jack-up has been in Singapore having its last leg sections reattached.
The rig's legs were damaged off Indonesia in September 2004, and temporary repairs enabled it to complete its subsequent obligations in Vietnam.
These final repairs return the KFels Mod V B Class rig to its full configuration.
Rig owner Atwood Oceanics said it would receive a loss of hire insurance coverage of $70,000 per day during the latest repair period.
Its contract with GSPC provides a dayrate of $113,000 for the first 13 months and $133,500 for the last 12 months, with a moving rate of $110,000.
Atwood also has a 12-month option period with GSPC.
The Indian operator is currently drilling the fifth of a 14-well commitment in block KG-OSN-2001/3 in the Krishna Godavari basin.
It is understood the rig being used is Saipem's jack-up Perro Negro 3.
One of the completed wells in block KG-OSN-2001/3 is the potentially large KG-8 (Deen Dayal) gas discovery
Joint venturers are operator GSPC, Jubilant Energy and GeoGlobal Resources.
Tuesday, 05 December, 2006, 05:28 GMT | last updated: Tuesday, 05 December, 2006, 07:31 GMT
