Total contracts newbuild Prospector rig for UK

OE Staff
Friday, July 26, 2013

Prospector Offshore Drilling has received a conditional letter of award from Total E&P UK for a drilling contract in the UK North Sea.

This contract would be for Prospector's third jack-up rig, PROSPECTOR 5, under construction at the Shanghai Waigaoqiao Shipbuilding Co. shipyard in China.

Under the award terms, the contract would have an initial duration of 1095 days, worth about US$249million. Total will have the option to extend the initial period by two periods of 12 months each. 

The drilling program is expected to start in late second quarter or early third quarter of 2014, following the delivery of PROSPECTOR 5 from the shipyard, which is expected to be in March 2014.

The award is conditional on a mutually agreed drilling contract being approved and approval of Total’s partners, expected to be achieved during July or early August 2013. 

Categories: Europe Rigs

Related Stories

Bureau Veritas Issues World’s First Offshore Solar Prototype Certification to SolarDuck

Cargotec's Hiab Scoops Large Order for Offshore Wind Loader Cranes

Lhyfe Gets $160M Government Grant for Large-Scale Production of Green Hydrogen

Current News

First Gas Export to Denmark from Tyra II Expected Today

Vattenfall to Take Part in IJmuiden Ver Offshore Wind Tender in Netherlands

Beach Energy to Let Go 30% of Workforce Amid Strategic Review

Ocean Infinity Inks Deal with Shell for Subsea Data Capture Services

Subscribe for OE Digital E‑News