The new contract carries a total value of $66 million, yielding a dayrate of about $60,000.
“This is about 10% up from the previous contract,” Smedvig boss Kjell Jacobsen said.
Smedvig has a 49% ownership interest in the rig, with Chrest Petroleum being the majority owner holding 51%.
The rig will start working off Malaysia under the new contract in mid-January 2006, in direct continuation of the existing contract.
ExxonMobil
