Seadrill ‘West Freedom’ Jack-Up Rig to Drill in Venezuela for Eni, Repsol

Seadrill Limited (“Seadrill“) has secured a new contract for the LT-Super 116E jack-up rig West Freedom offshore Venezuela with Cardon IV Venezuela, an ENI SpA and REPSOL joint venture. 

The contract is for a firm period of 30 months plus an option for a 6 month extension at mutually agreed rates.

The potential revenue for the primary contract term is approximately US$222 million inclusive of an estimated $8.5 million of mobilization.  The West Freedom is currently operating in Qatar and will likely be available to commence its charter in late September 2013.