GlobalSantaFe Corp. has contracted with Saudi Aramco to provide four jackup rigs for four-year terms starting the first half of 2007.
Offshore staff
GlobalSantaFe Corp. has contracted with Saudi Aramco to provide four jackup rigs for four-year terms starting the first half of 2007.
The four rigs -- Main Pass I, Main Pass IV, High Island I and High Island II -- are to mobilize in pairs in 4Q06 from the GoM to a Middle East shipyard for upgrades. The rigs then will move to drilling locations offshore Saudi Arabia in March and April 2007.
"We are very pleased to resume a long and mutually beneficial relationship with Saudi Aramco that dates back more than 30 years," said GlobalSantaFe President and CEO Jon Marshall. "This agreement supports Saudi Aramco's continuing expansion of its exploration and development drilling programs to supply the world's increasing demand for energy, and it provides our shareholders with attractive returns through improved rates and considerably longer terms compared to those available in the GoM."
GlobalSantaFe said the agreement pushes its contract drilling backlog to more than $8 billion.
