The tender-assist drilling rig EDrill-2, owned by its SED Energy Holdings’ subsidiary Energy Drilling, has started operations for PTT Exploration and Production Public Company (PTTEP) in the Gulf of Thailand.
EDrill-2 mobilized to the Gulf of Thailand, where it began operations for PTTEP under previously announced five-year contract, following the preparatory work in Singapore.
The contract the companies signed in July 2025 also has an additional three-year period option.
The total potential value of the contract is estimated at $250 million, assuming full exercise of the optional period and favorable index adjustments.
“We are very pleased to see EDrill-2 on location and commencing operations. I want to thank our offshore crews and onshore teams for their dedication and professionalism in ensuring a safe, efficient, and on-schedule start-up,” said Marcus Chew, CEO of Energy Drilling.
“The start of operations for EDrill-2 marks an important step in delivering on our strategy. With all rigs fully contracted, we continue to deliver strong earnings visibility, supporting sustainable cash generation and attractive shareholder distributions,” added Kurt M. Waldeland, CEO of Energy Holdings.