AOD secures contact extension for jack-up rig

Asia Offshore Drilling (AOD), owned by Seadrill Limited and Mermaid Maritime Public Company, has secured a three-year contract extension for jack-up drilling rig AOD I from a Middle East-based client until June 2022.

The contract extension for the unnamed client is a direct continuation to the current contract which is scheduled to expire by end-June 2019. The AOD I rig has been working for the same client since 2013.

Mermaid Maritime said the contract extension will add approximately $80m in contract backlog to AOD.

At present, AOD owns three jack-up drilling rigs, namely AOD I, AOD II and AOD III.

Mermaid Maritime has a 33.76% equity stake in AOD and the remaining 66.24% stake is owned by an affiliate of Seadrill Limited.

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Posted 12 March 2019

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Lee Hong Liang

Asia Correspondent

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