North Atlantic Drilling in another delay for ‘West Rigel’ delivery

Exploration & Production

Offshore drilling contractor North Atlantic Drilling (NADL) has once again deferred delivery of a newbuild semi-submersible drilling rig, the West Rigel, built by Sembcorp Marine’s Jurong Shipyard. 

NADL informed on Tuesday that an amendment has been agreed with Jurong Shipyard, which extends the delivery deferral period to January 6, 2017.

The extension allows the parties to continue to explore commercial opportunities for the rig. As previously agreed, in the event no employment is secured for the rig and no alternative transaction is completed, the company and Jurong will form a Joint Asset Holding Company for joint ownership of the unit, to be owned 23% by the company and 77% by Jurong.

To remind, on December 2, 2015, NADL signed an amendment with Jurong Shipyard for the deferral of the delivery of the semi-submersible drilling unit, the West Rigel. The deferral period originally lasted until June 2016, but was then subsequently extended to September 2, 2016. The rig will remain at the Jurong Shipyard in Singapore until the end of the deferral period.

West Rigel is a 6th generation semi-submersible drilling rig. The design is based on Moss Maritime CS60. It is designed to work in both benign and harsh environments and winterized for work in cold climate.

Offshore Energy Today Staff