Aquadrill to reactivate two rigs for new jobs

Offshore drilling contractor Aquadrill, formerly known as Seadrill Partners, has secured two new contracts, which will see it reactivating two of its rigs for deployment in India and Thailand.

Aquadrill and a subsidiary of Vantage Drilling have reached an agreement to provide the Polaris drillship for a nine-month contract for operations in India with Oil and Natural Gas Corporation (ONGC).

The drilling contractor said on Tuesday that the total contract value for the 6th generation drillship is expected to be approximately $66.5 million and work is expected to begin in 4Q 2022 following the relocation of the rig from Sri Lanka to Malaysia for reactivation, contract preparation and upgrades. This also includes equipping the rig with the piping required for future use of a Managed Pressure Drilling system.

Earlier this year, while docked at a port in Sri Lanka, the 2008-built drillship caught fire but the fast response of the Port Emergency Response Unit’s fire unit managed to prevent serious damage to the drillship and its surrounding area.

Vantage was approved as a manager of four deepwater floating rigs for Aquadrill, including the Polaris drillship, in March 2021 while the company was under Chapter 11 and still named Seadrill Partners. In January 2022, Vantage was also put in charge of managing and marketing the semi-submersible rig Aquarius.

Furthermore, Aquadrill and a subsidiary of Energy Drilling Management have reached an agreement to provide the T-15, a tender assisted drilling barge, for a five-month contract plus a three month priced optional period for operations in Thailand.

The total contract value of the firm portion of the contract is expected to be approximately $11.6 million and work is expected to begin in August 2022 following reactivation and contract preparation. In the event the optional period is exercised, the total additional contract value is expected to be approximately $5.4 million.

Energy Drilling Management has been the manager of T-15 as well as two other tender rigs for Aquadrill since February 2021.