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Seadrill gets rig extension deal from Saudi AramcoSeadrill gets rig extension deal from Saudi Aramco

Seadrill Limited has received a three-year contract extension from Saudi Aramco for the jack-up rig AOD III, putting the expiry in December 2019.

Lee Hong Liang, Asia Correspondent

December 30, 2016

1 Min Read
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Seadrill said the extension is in direct continuation of the current contract and will add approximately $112.5m in contract backlog for the company.

The extension, however, is at reduced rates in order to remain competitive in the challenging offshore market.

This extension follows the three-year extensions of two sister rigs AOD I and AOD II, with their contracts expiring June 2019 and July 2019 respectively.

All three units have been working for Saudi Aramco since 2013.

The rigs are owned by Asia Offshore Drilling (AOD), a partnership venture between Seadrill owning 66.24% equity stake and Mermaid Maritime with the remaining 33.76%.

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Saudi Aramco

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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