Niko signs with Diamond to drill offshore Indonesia for several years

Offshore staff

CALGARY, Canada – Niko Resources has signed what it calls the largest ever deepwater exploration drilling contract in the history of Indonesia. The $700-million contract with Diamond Offshore covers a four-year term plus an option year for the Ocean Monarch semisubmersible.

The rig can drill to 35,000 ft (10,668 m) in 10,000 ft (3048 m) of water and will be used on Niko’s 16 different production sharing contract areas starting around the middle of 2012.

11/10/2011