Seadrill Secures $97.5M in New Drillship Contracts

Tuesday, January 30, 2024

Offshore drilling contractor Seadrill has secured multiple contract awards totaling approximately $97.5 million for its West Vela and West Cappella drillships, announcing also it would resume management services for its West Auriga drillship earlier than expected.

Talos Production has awarded the West Vela a contract with an estimated duration of 150 days in the U.S. Gulf of Mexico.

The contract is expected to start in the third quarter of 2024 and represents a total contract value of approximately $73.5 million, excluding managed pressure drilling (MPD) services.

The West Vela is a 7th generation ultra-deepwater dual activity drillship with operational history in the U.S. Gulf of Mexico, built by Samsung Heavy Industries in 2013, and capable of operating at 12,000 ft water depth with maximum drilling depth of 37,500 ft.



The operator of the West Capella exercised a one-well option with the existing third-party manager, extending its operations by approximately two months. The contract is in direct continuation of the rig’s current program and represents a total contract value of approximately $24 million.

In December 2023, Mubadala Energy made a significant gas discovery from the Layaran-1 Exploration well, drilled in South Andaman, offshore North Sumatra in Indonesia using the West Capella drillship.

Later in the moth, Harbour Energy started drilling the Gayo-1 exploration well in the Andaman II block using the drillship.

The West Capella is the 6th generation ultra-deepwater dual activity drillship with operational history in Southeast Asia and West Africa. Built by Samsung Heavy Industries in 2008, it has been designed to operate at 10,000 ft water depths, and the maximum drilling depth 37,500 ft.



In addition, Seadrill has been informed by the current manager of the West Auriga that the rig will be released in February 2024 due to changes in their client's drilling sequence.

This enables Seadrill to resume management of the rig in the first quarter of 2024, accelerate preparation for its previously-announced contract with Petrobras in Brazil beginning in the second half of 2024, and more quickly achieve synergies from the 2023 acquisition of Aquadrill.

 “It is a pleasure to extend our contractual relationship with our longstanding client, Talos Energy. We also look forward to getting Seadrill coveralls back onboard the West Auriga,” said Simon Johnson, Seadrill's President and Chief Executive Officer.


Categories: Energy Drilling Industry News Activity South America Asia North America Drillships Oil and Gas

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