Swissco acquires four more mobile offshore drilling rigs

The rigs are attached with up to two-year contracts worth about $94.8m and are being deployed in Latin America.

In July, Swissco acquired rig owner Scott and English Energy, owner and charterer of mobile offshore drilling units. The acquisition comes with four dilling rigs also attached with charter contracts to an oil major in Latin America.

“In a span of about two months since we acquired the rig business of Scott and English Energy, we have doubled our rig count,” said Kelvin Tang, group chief investment officer at Swissco.

“Our strategy of acquiring cost-efficient and good quality rigs and deploying them in high-demand areas such as Latin America enables us to optimise our investment within a short period of time,” Tang said.

“As we now have a significant presence in this region, where the oil fields have substantial reserves, our management is confident that our rigs will be able to receive new long term contracts once the existing contracts expire,” he added.