The contract is for a firm three-and-a-half year primary term, with four one-year extension options.
The term commitment is comprised of a two-year obligation by Nexen and a one-and-a-half year obligation by Noble.
The $338 million Ensco 8501 deep-water semisub will be the second of its kind to be built by Keppel Fels. It will be capable of drilling in up to 8500 feet (2590 metres) of water, and can readily be upgraded to 10,000 feet water-depth capability.
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