Seadrill, in cooperation with indigenous partner Field Offshore Design Engineering Nigeria, secured a contract with Esso Exploration and Production Nigeria, an ExxonMobil subsidiary, for employment of the newbuild ultra-deepwater drillship West Saturn, in support of the ERHA North Phase 2 project in Nigeria.
The contract is for a firm period of two years plus a one year option and has a total revenue potential for Seadrill and Field Offshore Design Engineering Nigeria for the primary contract term of approximately USD 497M, inclusive of mobilisation.
The West Saturn is a sixth-generation drillship, currently under construction at Samsung Heavy Industries in Geoje, South Korea, with expected delivery in September 2014. It marks the sixth Seadrill unit to commence operation in the last 12 months. The unit will initially be outfitted to work in up to 10,000ft of water and is capable of handling two BOPs, operating in up to 12,000ft of water and drilling depths up to 40,000ft.