Offshore drilling contractor Aquadrill has secured work for two of its drilling units, the Polaris drillship and the T-15 tender assisted drilling barge.
Aquadrill and Vantage Drilling, as a manager of Aquadrill's drilling rigs, have reached an agreement to provide the 6th generation drillship Polaris, for a 9-month contract for operations in India with Oil and Natural Gas Corporation Limited (ONGC).
The total contract value is expected to be around $66.5 million and work is expected to start in Q4 2022 following the relocation of the rig from Sri Lanka to Malaysia for reactivation, contract preparation, and upgrades, including equipping the rig with the piping required for future use of a Managed Pressure Drilling system.
To remind, the rig had in February caught fire while in port in Sri Lanka, but the fire was quickly extinguished, according to port authorities. Read More.
Apart from the Polaris, Aquadrill, previously known as Seadrill Partners, has found work for the T-15, a tender assisted drilling barge. The rig, managed by Energy Drilling Management, has secured a 5-month contract plus a three-month-priced optional period for operations in Thailand. The identity of the client was not shared.
The total contract value of the firm portion of the contract is expected to be around $11.6 million and work is expected to start in August 2022 following reactivation and contract preparation. In the event the optional period is exercised, the total additional contract value is expected to be approximately $5.4 million.