17 July 2019 - Seadrill Limited has secured two contracts in West Africa for the West Gemini and Polaris Drillships in what must be a welcome relief for management and investors.
Seadrill said that the West Gemini had secured a nine-well contract with three options, each for two wells.The total contract value for the firm portion of the contract is expected to be approximately $84 million.
The contract is expected to start in early 4Q 2019 and running through 4Q 2020.
In a sign of the times for the Deepwater offshore drillers, Bassoe Offshore estimates that the drillship’s dayrate will be around $185,000 compared with some $650,000 / day during the golden days of Deepwater drilling. The drillship is currently under contract with Italy’s Eni in Angola with a dayrate of $180,000.
The West Gemini is a 6th generation ultra-deepwater drillship of a SAMSUNG 10,000 design with operational history offshore Africa. It was built in 2010 by South Korean rig builder Samsung Heavy Industries.
West Polaris has secured a contract with PC Gabon Upstream for drilling operations in Gabon for 1 well.