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New Seadrill contract awards total $97.5m

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Multiple contracts: Seadrill’s West Vela rig (File photograph)

Bermudian-based Seadrill Ltd, the offshore drilling company, has announced multiple contract awards totalling approximately $97.5 million in value.

The company said Houston-based Talos Production Inc has awarded the West Vela a contract with an estimated duration of 150 days in the US Gulf of Mexico.

The contract is expected to commence in the third quarter of the year and represents a total contract value of approximately $73.5 million, excluding managed pressure drilling services.

Seadrill said the operator of the West Capella exercised a one-well option with the existing third-party manager, extending its operations by approximately two months. The contract is in direct continuation of the rig’s programme and represents a total contract value of approximately $24 million.

The company said it has been advised by the manager of the West Auriga that the rig will be released this month owing to changes in its client’s drilling sequence.

Seadrill said this enables it to resume management of the rig in the first quarter of 2024, accelerate preparation for its previously announced contract in Brazil beginning in the second half of 2024, and more quickly achieve synergies from the 2023 acquisition of Aquadrill.

Simon Johnson, Seadrill’s president and chief executive, said: “It is a pleasure to extend our contractual relationship with our long standing client, Talos Energy. We also look forward to getting Seadrill coveralls back on board the West Auriga.”

Seadrill is to hold its annual meeting of shareholders in Bermuda on April 17.

The company said a copy of the notice of AGM and proxy statement will be distributed closer to the meeting date.

***

Paratus Energy Services Ltd has announced that SeaMex Holdings Ltd and related subsidiaries have secured a one-year contract for the Titania jack-up in Mexico.

The new contract will contribute approximately $55 million in backlog and is expected to commence around mid-month, Paratus said.

The Titania has remained operating under its existing contract beyond its early termination date of March 16, 2023 pursuant to a well completion clause under the agreement.

The Titania will operate in direct continuation under the new contract award.

“We are pleased to announce that the Titania will continue her operations without interruption,” said Raphael Siri, CEO of SeaMex Group.

“Our longstanding business in Mexico continues to develop with this latest award, which also highlights the successful takeover from our previous rig manager of all business aspects, including marketing and operations. These are now all based in Mexico and run in-house."

Paratus, which is based in Hamilton, is an investment holding company of a group of energy services companies.

The Paratus Group is primarily comprised its ownership of SeaMex and a 50/50 joint venture interest in Seabras Sapura.

SeaMex is an offshore drilling company with a fleet of five high-specification jack-up rigs working under contracts in Mexico.

Seabras Sapura is a subsea services company, with a fleet of six pipe-laying supply vessels under contracts in Brazil.

Paratus is also the largest shareholder in Archer Ltd, a global oil services company, listed on the Oslo Stock Exchange.

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DHT Holdings Inc, the Bermudian-based crude oil tanker company, has appointed Ana Zambelli to its board of directors.

The company said Ms Zambelli has more than 20 years of experience in the energy sector in operational, commercial and finance roles.

She served as a managing director in Brookfield's Private Equity Group, responsible for business operations in Brazil, as chief commercial officer at Maersk Drilling, managing director at Transocean, and president of the Brazilian division of Schlumberger.

DHT said Ms Zambelli previously served on the boards of directors of BRK Ambiental, Unidas, Aldo Solar, Petrobras, Braskem. She founded, and leads, the diversity committee at the Brazilian Petroleum Institute.

At present, she is an independent board member for Seadrill, Galp and BW Energy.

Ms Zambelli is a citizen and resident of Brazil.

Seadrill president and chief executive officer: Simon Johnson (File photograph)
Vast experience: Ana Zambelli, board member, DHT Holdings Inc (File photograph)

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Published February 05, 2024 at 7:57 am (Updated February 05, 2024 at 7:37 am)

New Seadrill contract awards total $97.5m

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