Atwood Oceans wins three-year semisubmersible contract

Atwood Oceanics Pacific Ltd. (AOPL) has been awarded a three-year contract by Chevron Australia to provide a newly constructed mobile offshore semisubmersible drilling unit.

Offshore staff

HOUSTON -- Atwood Oceanics Pacific Ltd. (AOPL) has been awarded a three-year contract by Chevron Australia to provide a newly constructed mobile offshore semisubmersible drilling unit.

The dayrate is $470,000, if the firm commitment is three years, and $450,000, if the option is exercised to extend the firm commitment period to six years.

The new rig will be constructed at Jurong's shipyard in Singapore, with delivery expected in early 2011. AOPL estimates the total cost of the rig will be $570 to $590 million.

The rig will be able to conventionally moor in up to 6,000 ft (1,829 m) of water with its own mooring equipment and could work in up to 8,000 ft (2,438 m) of water with pre-laid mooring equipment.

01/04/2008

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