OE17: Rig upgrade contract signals optimism

Semco Maritime has won a contract to upgrade the West Elara jackup rig for a new, long-term assignment for ConocoPhillips, starting in 2018, in the Norwegian North Sea.

The contract is the largest for Semco Maritime's Hanøytangen yard to date. West Elara, owned by North Atlantic Drilling, will be moved to the yard at the end of the year, following the expiry of its contract with Statoil.

”The order also confirms the increased activity in the market of rig upgrades, which we have seen in 2H of 2017. The signs are positive and give rise to cautious optimism in a continually challenged market,” says Senior Vice President Lars Skov, Semco Maritime Rig Projects.

The rig will work on the Ekofisk field. The rig, designed for work in up to 150m water depth, accommodates 120 people and was built in Singapore in 2011.