Offshore : Seadrill secured a two well contract in Malaysia

Offshore drilling contractor ‘Seadrill Partners’ has secured a two-well contract plus one optional for drillship West Capella in Malaysia from an unnamed operator

Seadrill Partners revealed in its latest results statement, that the total firm contract value is expected to be approximately U$ 20 million, at a day rate of U$ 188,000.

Contract commencement is expected to be in October 2020 and running to early January 2021.

Drilling contractor announced that, the total operating revenues for 1H20 were U$ 314.0 million (2H19: $367.8 million). The decrease was primarily due to idle time on the West Capricorn and T-15, completion of the West Aquarius contract, an early termination fee for the West Vencedor during 2H19 not being repeated and fewer days in operation for the West Polaris. 

These were partially offset by improved uptime and more operating days for the West Capella, said Seadrill.

Total operating expenses for 1H20 were U$ 314.7 million (2H19: $357.1 million). The decrease was primarily due to fewer operating days across the fleet, partially offset by higher costs on the West Capella due to more days in operation.

2008 SHI built 6th generation drillship ‘West Capella’ is registered under Panama Administration.

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