Seadrill’s AOD jack-up gets three more years with Saudi Aramco

Business & Finance

Offshore drilling contractor Seadrill has received a three-year contract extension from Saudi Aramco for the jack-up AOD III, expiring in December 2019.

Seadrill said on Thursday that the extension is in direct continuation of the current contract and will add approximately $112.5 million in contract backlog.

This extension follows the three-year extensions of the AOD I and AOD II announced on July 29, 2016, which were expected to add approximately $225 million in contract backlog.

In October, AOD III was also awarded the extension of the contract with Saudi Aramco until December 31, 2016, but with a reduced dayrate.

The three units have been working for Saudi Aramco since 2013. They are owned by Asia Offshore Drilling (AOD), which is a partnership venture between Mermaid and Seadrill where Mermaid has 3.76 percent and Seadrill has 66.24 percent stake.