CATEGORIZED | News

Pride South Pacific contract offshore West Africa extended

Posted on 28 July 2009

 Pride International announced on 27 July that its deepwater semisubmersible rig, Pride South Pacific, has been awarded a one-year contract by a subsidiary of Noble Energy for operations offshore West Africa. The contract is expected to commence during the first quarter of 2010, in direct continuation of the rig’s current contract commitment and a scheduled shipyard program to be executed in Cape Town, South Africa.

The Pride South Pacific completed an upgrade
in 1998 and can operate in water depths up to 5,000 ft.

The contract duration could be extended by up to three months on the same terms and conditions following notification by the customer, which would be provided within the initial six months of the contract.

Revenues that could be generated over the firm one-year period are approximately $117.2 million, excluding revenues for mobilization, demobilization and client reimbursables.

The Pride South Pacific is one of eight deepwater semisubmersibles and drillships in the Pride International fleet. The rig, which completed a significant upgrade in 1998, utilizes a conventional chain and wire mooring system. The rig’s current equipment configuration allows for operations in water depths of up to 5,000 ft.

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 28 January 2015

    Chevron collaborating with BP, ConocoPhillips to explore 24 leases in deepwater Gulf of Mexico

    Chevron will collaborate with BP and ConocoPhillips to explore and appraise 24 jointly-held offshore leases in the northwest portion of Keathley Canyon...

  • 28 January 2015

    BP forms alliance to advance Paleogene discoveries in deepwater Gulf of Mexico

    BP has formed a new ownership and operating model with Chevron and ConocoPhillips to focus on moving two significant BP Paleogene discoveries closer to development...

  • 27 January 2015

    US EIA: Lower 48 oil production outlook stable despite expected rig count reduction

    The sharp decline in oil prices over Q4 2014, which has continued in January, is already having a significant effect on drilling activity in the US, as...

  • 27 January 2015

    Hess Corp announces 2015 capital, exploratory budget

    Hess Corp announced a 2015 capital and exploratory budget of $4.7 billion, a 16% reduction from its 2014 actual spend of $5.6 billion. Of this, $2.1 billion (45%) is budgeted for unconventional shale resources...

  • 26 January 2015

    Young professionals program at SPE/IADC Drilling Conference to target future leaders of the industry

    The oil and gas industry is constantly looking to the future. Whether this comes in the form of pushing the limits of pressure...

  • Read more news