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.