HAMILTON, Bermuda – North Atlantic Drilling Ltd (NADL) reports that six binding offshore contracts have been executed with Rosneft Oil Co. The total revenue potential for the six contracts, exclusive of mobilization, is $4.25 billion.
According to the agreement, any break rights expire after 100 days. The executed contracts include five-year contracts for theWest Navigator, the West Rigel, and the West Alpha, as wel as for two newbuild CJ-54 class rigs, and a 2.5-year contract for a Gusto class jackup rig.
These contracts begin in Russian waters in 2015 and go through 2017.