The award is set to boost future earnings visibility for the loss-making oilfield services player, majority owned by Seadrill that is backed by billionaire shipping and offshore magnate John Fredriksen.
The Oslo-listed company intends to deploy its modular rig Archer Emerald, currently installed on the Maui A platform off New Zealand, for the Montrose work.
The two-year contract, due to start in the first quarter of 2016 following modification of the rig, will entail drilling work to extract more reserves from the mature Montrose reservoir and thereby boost output to prolong the life of the field.
Archer
