Total books jackup for long-term North Sea duty
Total E&P UK has issued a conditional letter of award to Prospector Offshore Drilling for use of a newbuild jackup in the UK North Sea.
PROSPECTOR 5 is under construction at the Shanghai Waigaoqiao Shipbuilding Co. shipyard in China.
Assuming ratification by Total’s partners, the contract would have an initial firm duration of 1,095 days, extendable by two 12-month periods. Drilling is expected to start by early summer 2014.
Prospector Offshore estimates revenue from the initially agreed term at $249 million, including the mobilization fee.