Seadrill secures $361 million in contract extensions for offshore rigs
Three jack-ups retained on multi-year basis for work in Persian Gulf
Oslo-listed global drilling contractor Seadrill has secured multi-year contract extensions worth US$361 million for three of its offshore drilling units.
The extensions apply to the jack-ups AOD I, AOD III and West Callisto, all of which are currently working for Saudi Aramco in the Persian Gulf.
The firm term of each contract is three years, starting in direct continuation of the current contracts.
AOD I, AOD III and West Callisto are now committed to June 2025, December 2025 and November 2025, respectively.
Total contract value for the three contracts is $361 million in aggregate, said Seadrill.
Simon Johnson, Seadrill chief executive, said: “We are pleased to be extending these rigs in the Arabian Gulf (Persian Gulf) , solidifying Seadrill’s strong market share and further extending our impressive backlog.
“These contracts demonstrate the value customers place on Seadrill’s operational performance and safety record.
“The extensions also reflect the commitment and energy of our crews onboard the AOD I, AOD III and West Callisto and the shorebase teams that support them.”
All three jack-ups are Premium KFels designs rated for water depths of 400 feet. AOD I is currently working on a dayrate of $75,000; AOD III is at $92,900 and West Callisto at $79,500.
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