Pacific Drilling Secures Work For Its Drillships

Written by Paulo Nogueira

Published on 05/03/2019 at 11:22

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The Offshore Drilling Company Pacific Drilling Signed Drilling Contracts and Extensions with Total, Chevron, and Eni.

According to the drilling fleet operator, Chevron decided to extend the contract for the drillship Pacific Sharav when the current five-year contract expires in August 2019. The extension is for three additional optional wells in the Gulf of Mexico in the US, the drillship has been operating under these terms since 2014, at a high daily rate of US$ 551,000.

Pacific Drilling did not disclose the new exchange rate in the two-month contract signed, but the Norwegian platform broker Bassoe Offshore estimates that the daily rate is around US$ 175,000.

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Additionally, Pacific Drilling reported that the French Total contracted its drillship Pacific Santa Ana, built in 2011.

The Pacific Santa Ana, currently undergoing client acceptance tests in Las Palmas, received a contract to operate in Senegal for one company and in Mauritania for an option with Total.

After that, the drilling vessel will start its contract with Petronas in Mauritania in July, as the Malaysian company recently exercised an option for Phase II of the plug and abandonment project.

Dayrate of US$ 296,000 includes an integrated services package. The contract is expected to expire in June 2020.

The operator also revealed that it has two firm well contracts with Eni in Nigeria for the drillship Pacific Bora, with Eni having an option to extend. The contract started in November 2018 with a daily rate of 150,000, and is set to expire in April 2019. The original contract was for one firm well with two optional wells, which means that, as per the latest fleet update, Eni has now exercised one of the two previously available optional wells.

In addition to the three drillships mentioned, Pacific Drilling has four stacked platforms in Las Palmas: the Pacific Mistral, Pacific Scirocco, Pacific Khamsin, and Pacific Meltem.

Pacific Drilling Secures Work For Its Drillships

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