Chevron signs ultra-deepwater drillship for West Africa duty

Chevron (NYSE:CVX) has contracted the ultra-deepwater drillship Pacific Khamsin for a program offshore West Africa.

Offshore staff

LUXEMBOURG – Chevron (NYSE:CVX) has contracted the ultra-deepwater drillship Pacific Khamsin for a program offshore West Africa.

According to vessel owner Pacific Drilling, the contract carries an initial two-year term, and is due to start by end-3Q 2013. There is an option for a one-year extension prior to delivery of the vessel from Samsung Heavy Industries in South Korea.

Estimated value of the initial term to Pacific is about $527 million, including mobilization and demobilization.

The drillship is designed to operate in water depths of up to 12,000 ft (3,657 m) and to drill wells up to 40,000 ft (12,192 m) deep.

11/16/2012

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