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Showing posts with label Scores. Show all posts
Showing posts with label Scores. Show all posts

Tuesday, September 6, 2011

Technip Scores Maersk Gig in North Sea

- Technip Scores Maersk Gig in North Sea

Tuesday, September 06, 2011
Technip

Technip was awarded an installation contract, worth approximately €40 million, by Maersk Oil North Sea UK Limited for the Gryphon Area Reinstatement Program – GARP, located about 320 kilometers North-East of Aberdeen in 110 meters of water.

This contract covers installation of 15 dynamic risers, 2 dynamic and 2 static umbilicals, 11 flexible flowlines as well as subsea equipment.

Technip's operating center in Aberdeen, Scotland will execute the contract, which is scheduled to be completed in the second semester of 2012. Vessels from the Technip fleet will be used for the campaign, including Skandi Arctic and Wellservicer.

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Thursday, September 1, 2011

TGS Scores Seismic Survey in Utica Shale

- TGS Scores Seismic Survey in Utica Shale

Thursday, September 01, 2011
TGS-NOPEC Geophysical Co. ASA

TGS has awarded the acquisition of a 307 mi2 (795 km2) multi-client 3D project located onshore United States. The new seismic program, Firestone 3D, is designed to illuminate the Utica Shale play in Northeast Ohio and aid in the development of this unconventional play. Tidelands Geophysical Services is expected to begin acquisition on the project in 1Q 2012. Data acquisition is anticipated to take seven months.

The Utica Shale is a geologic formation located a few thousand feet below the Marcellus Shale that is characterized by a western oil phase, a central wet gas and an eastern dry gas phase. The new seismic survey is located over the wet gas/liquids rich portion of the Utica Shale. Many see the Utica Shale play as analogous to the prolific Eagle Ford Shale in Texas. The Utica Shale is thicker and more geographically extensive than the Marcellus Shale Trend and has already proven its ability to support commercial production.

"The use of 3D multi-client seismic by oil and gas companies in the development of the unconventional plays in the onshore United States has grown substantially in recent years. We have carefully watched the development of this market and are excited to expand our existing onshore library to include this 3D seismic data," said Robert Hobbs, CEO of TGS. "TGS continues to be successful in diversifying its multi-client library both by product as well as geography," continued Hobbs.

This multi-client program is supported by industry pre-funding.

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Friday, August 26, 2011

Aker Solutions Scores Drilling Equipment Contract for DSME

- Aker Solutions Scores Drilling Equipment Contract for DSME

Friday, August 26, 2011
Aker Solutions

Aker Solutions has received a Letter of Award from Daewoo Shipbuilding & Marine Engineering (DSME), to supply two drilling equipment packages to the new 'Cat D' drilling rigs the yard is building for the rig operator Songa Offshore. Options (if exercised) for two additional units are included. Contract value is undisclosed.

The development of the two Cat D semi-submersible drilling rigs has been initiated by Statoil, the international energy company, which awarded two long-term contracts for the units to Songa in July 2011.

The first two units will be delivered in 2014, and the main deliveries from Aker Solutions will take place in 2012 and 2013. The contract includes topside drilling equipment, procurement and commissioning of the rigs at the DSME yard. The two optional units (if exercised) are scheduled for completion in 2015.

"We are very pleased to win these contracts, which demonstrate the good cooperation between Statoil and the drilling operators and drilling system providers. Together, we have developed a new generation drilling and well intervention design, purpose made for the needs for North Sea operations, through a joint FEED (front end engineering and design) phase. We are also looking forward to continuing the good, long-term collaboration with DSME on this project, the latest addition to a long string of successful joint projects," said Thor Arne Håverstad, head of Aker Solutions' drilling technologies business.

Work on the project will start immediately in Kristiansand, Norway, and in other Aker Solutions drilling technologies units in Asker, Norway, Erkelenz, Germany and Houston in the US.

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Monday, August 22, 2011

Pulse's New Flexible Riser Monitoring System Scores 100% in Testing

- Pulse's New Flexible Riser Monitoring System Scores 100% in Testing

Monday, August 22, 2011
Pulse Structural Monitoring

A new flexible riser integrity monitoring system from Pulse Structural Monitoring has achieved a 100% success rate in a rigorous and ground breaking dynamic test process.

FlexASSURE uses non-invasive sensors to detect breaks in the tensile armour wires of a flexible riser, building a detailed picture of structural integrity and alerting the user to early signs of deterioration.

It was conceived in response to calls from operators for a reliable means of validating riser integrity in deepwater installations, following a number of riser failures in recent years.

The system, comprising monitoring hardware, a real-time data acquisition system and data processing interface, has been developed, tested and qualified in Brazil, where flexible risers are responsible for transporting approximately 80% of offshore production, amid increasingly challenging conditions.

FlexASSURE can be installed on a new riser to provide integrity assurance throughout its lifetime, or retrofitted to an existing riser where there may be concerns over its remaining life.

The FlexASSURE concept

When a tensile armour wire breaks, load is transferred from this wire to the remaining armour wires. During this event, the flexible riser experiences a sudden movement with axial, rotational and acoustic characteristics, which FlexASSURE detects using a combination of 5 sensors and a sophisticated algorithm.

Extensive testing

The system was extensively qualified over three years, undergoing laboratory and offshore testing before progressing to a full-scale dynamic test, in which it was attached to a riser and subjected to loads representing 100% service life, accounting for 10x safety factor. This activity was monitored in a blind test, in which FlexASSURE detected 100% of the wire breaks, with no false alarms.

Richard Kluth, Managing Director, said, "Measuring the integrity of riser armour cannot be achieved using inspection methods, as the wires are internal to the flexible construction.

"Historically this has made monitoring flexible risers very difficult and, as we have seen from industry reports such as Sureflex, there are increasing concerns over leakage into the annulus and potential corrosion of armour wires.

"With FlexASSURE Pulse has a unique product that can provide early warning detection if the integrity of these critical components is compromised."

Priscilla Elman, Business Development Manager for Pulse in Brazil, said, "Their unique ability to withstand motion and ease of installation make flexible risers a favourable solution compared to conventional rigid risers.

"However, integrity issues have driven demand for effective monitoring systems and riser qualification processes to guarantee operational safety.

"Pulse's test-proven FlexASSURE solution offers operators and fabricators a highly accurate means of managing riser integrity, reducing risk of human, environmental and material losses."

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Friday, August 12, 2011

EnerMech Scores Project Work for Perenco Facility

- EnerMech Scores Project Work for Perenco Facility

Friday, August 12, 2011
EnerMech Ltd.

EnerMech has been awarded a turnkey shutdown project by Perenco for its A1 plant at the Bacton gas facility in Norfolk.

The mechanical engineering specialist will play a lead role in the entire shutdown and isolation of the plant as it is removed from service for integrity inspections and additional upgrade work.

EnerMech will assist Perenco staff to isolate and drain the plant before it is handed over for nitrogen purging and the cleaning of all vessels and pipe work to allow safe entry by inspectors.

On satisfactory completion of the work scope, all vessels and pipe work will be returned to Perenco, fully re-assembled and nitrogen leak tested and processing equipment will be dried with nitrogen on reinstatement.

EnerMech will also provide all associated consumables, scaffolding, painting, grit blasting and lagging requirements on project, which is expected to last up to three months and will be managed from EnerMech's Great Yarmouth base.

Thomas Smith, EnerMech business development manager, said, "We have previously provided training services for Perenco but this is the first process and pipeline workscope we have been awarded.

"The award strengthens our growing reputation in the UK and southern North Sea as a leading provider of pre-commissioning and pipeline integrity services and it gives us a base to develop our other business lines throughout the area."

The Perenco contract is the latest of a number of awards secured by EnerMech following the recent £20 million investment in launching a new Process, Pipelines and Umbilicals division.

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Thursday, August 11, 2011

First Subsea Scores Chevron Contract for Jack/St. Malo Facility

- First Subsea Scores Chevron Contract for Jack/St. Malo Facility

Thursday, August 11, 2011
First Subsea Ltd.

First Subsea has been awarded a contract by Chevron U.S.A. Inc. to supply the mooring connectors for the Jack/St. Malo semisubmersible hub production facility in the Jack/St. Malo fields located approximately 280 miles south of New Orleans, Louisiana, in water depths of 2,133 m (7,042 feet) in the Gulf of Mexico.

The semisubmersible, floating production unit (FPU) will be moored by 16 Ballgrab, ball and taper, mooring connectors attached to polyester mooring lines in a 4x4 arrangement. The Ballgrab Series III male connectors will be the largest produced so far with an un-corroded 2,599mT (25,491kN) MBL, and the first to comply with the new ABS Mooring Guide 2009.

The Ballgrab connector comprises a male connector and female receptacle. The female receptacle will be installed subsea with the mooring system's suction piles, mounted on docking porches. When the FPU is in position, the male connector, attached to the mooring line, is lowered from the surface into the female receptacle to complete the mooring installation. The process is then repeated until all 16 mooring lines are connected.

"We are delighted to have been awarded the Jack & St Malo FPU mooring connector contract," said Brian Green, general manager, First Subsea Ltd. "The Ballgrab mooring connector provides an efficient method of deploying deepwater mooring lines. For the Jack & St Malo connectors, we will be drawing on our world leading research into large scale forgings to optimize mooring performance."

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Aker Solutions Scores Subsea Contract for Kikeh Proj.

- Aker Solutions Scores Subsea Contract for Kikeh Proj.

Thursday, August 11, 2011
Aker Solutions

Aker Solutions has secured a contract with Murphy Sabah Oil Co., Ltd. to deliver a subsea production system for the Kikeh subsea expansion project off the coast of Sabah in East Malaysia. Contract value is undisclosed.

The scope of work includes the delivery of deepwater oil production equipment such as subsea trees, control modules distribution system and manifolds that will be installed at a water depth of 1350 meters.

The project will be delivered out of Aker Solutions high-tech subsea manufacturing center in Port Klang, Malaysia. This is the only facility in the world where a complete subsea production system can be manufactured in one location.

The subsea hardware is expected to be on production in 2013. Aker Solutions was responsible for the delivery of the original Kikeh scope back in 2005. It was the first deepwater development in Malaysia and the Asia Pacific region.

Dave Hutchinson, president, subsea Asia Pacific at Aker Solutions said, "We are extremely pleased to have Murphy as our returning customer. We will deliver a quality project fully utilizing our experience in the region."

The contract party is Aker Process Systems Asia Pacific Sdn. Bhd. The contract has been signed and booked as order intake in 2Q 2011.

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Monday, August 8, 2011

RBG Scores Chevron QA/QC Inspection Contract

- RBG Scores Chevron QA/QC Inspection Contract

Monday, August 08, 2011
RBG

RBG has been awarded a three year contract to provide Chevron North Sea Limited with global QA/QC (quality assurance/quality control) inspection services. RBG have provided similar inspection services to Chevron since 2002.

The contract involves the provision of both full time and ad-hoc quality personnel, including principal and senior QA/QC inspectors, which deliver expert third party vendor inspection services for Chevron onshore and offshore, across the UK, Continental Europe, Americas and Asia-Pacific.

The experienced RBG team supports new build works and servicing of equipment for Chevron's drilling, completion, subsea and topside activity and supports Chevron in ensuring that the work is carried out in accordance with the required industry standards and meets the company's specifications. Activities can range from witnessing the manufacture of pipe being produced at pipe mills in Japan to inspecting wellheads fabricated in Europe and North America.

Doug Bolton, RBG's quality services manager, said, "We are very happy to have been awarded this significant three-year contract. Since 2002, we have developed an excellent working relationship with Chevron and I am confident that the high quality of work carried out by our embedded team of inspectors was a significant factor in securing this contract award. We look forward to continuing our work with Chevron over the next three years.

"We have experienced a notable rise in vendor inspection activity in recent years and our truly international reach means we can provide a cost-effective service that ensures product quality and timely delivery."

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Friday, July 29, 2011

Subsea 7 Scores Major Contract for Gorgon Proj.

- Subsea 7 Scores Major Contract for Gorgon Proj.

Friday, July 29, 2011
Subsea 7

Subsea 7 has been awarded a contract valued at approximately $440 million from Chevron Australia Pty Ltd for the Chevron-operated Gorgon Project, offshore Western Australia.

The work scope includes installation and tie-in of heavy lift structures in the Gorgon and Jansz Fields, respectively 65km and 130km from Barrow Island, off the north-west coast of Western Australia, in water depths of up to 1,350m. The project scope includes engineering, spools fabrication, transportation, installation and pre-commissioning of the following:
  • 20 subsea structures and foundations, each of up to 1,065 Te;
  • 15 heavy spools, each of up to 190 Te;
  • 48 tie-in spools;
  • 39 electrical and 18 hydraulic flying leads; and
  • 5 infield umbilicals and 2 associated distribution units.

Project management and engineering will commence immediately from Subsea 7's office in Perth, Australia, with offshore operations scheduled to commence in 2013 using Sapura 3000 and other construction vessels from our fleet.

Barry Mahon, Subsea 7's Senior Vice President, Asia Pacific & Middle East, said, "We are delighted to be awarded this pioneering contract, which complements the recent award of the Gorgon Umbilicals Project and provides an excellent opportunity to further build upon our strong local presence, our expertise in engineering, project management and installation and our long standing track record of
delivering significant subsea projects in Australia."

Jean Cahuzac, Subsea 7's Chief Executive Officer, said, "The Gorgon Project represents an important development for the subsea market in Australia and we are delighted to be awarded this prestigious contract by Chevron. This contract builds upon our world class assets and enhanced capabilities to apply advanced solutions to meet the increasingly challenging needs of our clients in their complex
subsea developments, reinforcing our position as a global leader in seabed to surface engineering, construction and services."

The Gorgon Project is one of the world's largest natural gas projects and the largest single-resource project in Australia's history. It is operated by Chevron and is a joint venture of the Australian subsidiaries of Chevron (approximately 47%), ExxonMobil (25%) and Shell (25%), Osaka Gas (1.25%), Tokyo Gas (1%) and Chubu Electric Power (0.417%).

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Wednesday, July 13, 2011

CB&I Scores Engineering, Construction Contract for Northeastern Facility

- CB&I Scores Engineering, Construction Contract for Northeastern Facility

Wednesday, July 13, 2011
CB&I

CB&I has been awarded a contract, valued in excess of $300 million, for a new natural gas processing plant in the Northeastern U.S.

CB&I's work scope includes the engineering, procurement and construction of a 200 million cubic foot per day natural gas processing plant, including full fractionation and treatment capabilities, storage tanks and loading systems. In addition, CB&I's Lummus Technology business sector is providing its proprietary NGL-MaxSM recovery technology. The contract is scheduled for completion in 2012.

"This contract is a great example of CB&I's ability to leverage the synergy of our technology, storage and EPC capabilities to provide a single-source solution to natural gas producers," said Philip K. Asherman, President and CEO. "As gas production ramps up in U.S. shale basins, we are well positioned to support the infrastructure development needs of these strategically important projects."

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Tuesday, July 5, 2011

ProSep Scores Contracts in GOM, Canadian Oil Sands

- ProSep Scores Contracts in GOM, Canadian Oil Sands

Tuesday, July 05, 2011
ProSep Inc.

ProSep was awarded $1.8 million in new contracts to supply a produced water treatment system for installation on a deepwater Gulf of Mexico facility and crude dehydration equipment for two oil sands facilities located in Alberta, Canada.

"The Gulf of Mexico and the Canadian Oil Sands represent new and promising territories for ProSep. With sustained high crude prices, increasing production challenges and regulation, demand for our process equipment continues to grow," said Jacques L. Drouin, President & CEO.

The produced water treatment system to be supplied to a deepwater GOM facility consists of hydrocyclones and induced gas flotation (IGF) equipment, designed to treat 40,000 BPD of produced water to less than 20 ppm oil in water. The equipment is expected to be delivered early 2012.

The crude dehydration systems consist of engineering services and internals for one free-water knock-out (FWKO) vessel and two thermal electrostatic treaters designed to dehydrate 15 API crude to 0.5% basic sediment and water (BS&W) outlet oil specification. The equipment is expected to be delivered by early 2012 to two oil sands facilities located in Alberta, Canada. This contract was awarded through a commercial alliance with Edmonton-based engineering and manufacturing company Thermo Design (TDE).

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Monday, June 27, 2011

EMGS Scores Barents Sea Survey for Statoil

- EMGS Scores Barents Sea Survey for Statoil

Monday, June 27, 2011
Electromagnetic Geoservices ASA

Electromagnetic Geoservices (EMGS) has signed a contract with Statoil to acquire high-resolution, full-azimuth 3D electromagnetic (EM) data for continued research purposes in the Barents Sea.

The survey will be performed by the vessel Atlantic Guardian using densely sampled receiver grids, thereby providing high-resolution data.

Following the survey in the Barents Sea, which is expected to take approximately twelve days, the vessel will complete its campaign of back-to-back surveys with a work program in the North Sea before heading to the Americas towards the end of July.

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Wednesday, June 22, 2011

Dril-Quip Scores Supply Contract Offshore Malaysia

- Dril-Quip Scores Supply Contract Offshore Malaysia

Wednesday, June 22, 2011
Dril-Quip Inc.

Dril-Quip announced that Dril-Quip Asia Pacific PTE Ltd, its wholly owned subsidiary located in Singapore, has been awarded a contract valued at approximately US $39 million by Murphy Sabah Oil Company, Ltd. to supply drilling and production equipment for the Kikeh Dry Tree Spar Platform which is located offshore Malaysia in approximately 1,330 meters of water.

Dril-Quip will provide a drilling riser, top tensioned production risers, tensioners, tieback connectors, specialty joints, surface wellheads and production trees to the project. Delivery of these systems is scheduled to begin in 2012.

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Tuesday, May 31, 2011

McDermott Scores Pipeline Installation Proj. in GOM

- McDermott Scores Pipeline Installation Proj. in GOM

Tuesday, May 31, 2011
McDermott International Inc.

McDermott's subsidiaries was awarded a contract by PEMEX Exploración y Producción for procurement, construction and installation of three oil and gas pipelines ranging from 8 to 20 inches in diameter, in Mexico's Bay of Campeche. The contract is valued at more than US $50 million and will be included in McDermott's second quarter backlog for 2011.

"We are pleased to be working again for PEMEX in the Gulf of Mexico. Our installation solution for this project will be supported by our subsea engineering design group in Houston and fabrication work from our construction yard in Altamira, Mexico," said Stephen M. Johnson, McDermott's Chairman, President and Chief Executive Officer.

Pipeline installation engineering is expected to begin in the second quarter of 2011, with subsequent fabrication of the risers, clamps and guards, subsea tie-in assembly and additional platform piping and structural items from Altamira. McDermott's DB16 will perform the installation work, with completion expected by the end of the year.

DB16 is outfitted with a customized Automatic Welding System that offers high weld production rates and production flexibility. The vessel and its crew are recognized for producing repeatable high-quality welds with exceptional mechanical properties. Also impressive is the vessel's underwater block, capable of lifting large amounts of tonnage into deepwater.

The field development in the Gulf of Mexico sits in approximately 170 feet of water. The pipelines will run from the Kambesah Wells Recoverer Structure to the Kutz TA platform and the Ixtoc-A platform.

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Wednesday, May 25, 2011

RBG Scores Safety Milestone at Trinidad and Tobago

- RBG Scores Safety Milestone at Trinidad and Tobago

Wednesday, May 25, 2011
RBG

RBG has recorded a significant safety achievement by completing more than 2,000,000 man-hours without a lost time incident across the company's Trinidad and Tobago operations.

The achievement marks another major milestone in the company's REACH safety program which, since its launch in December 2009, has played a major role in reducing Lost Time Incident Frequency (LTIF) by 38.5% globally. REACH aims to create a stronger, safer culture throughout RBG and in 2011 the initiative will expand to improve the company's full HSEQ remit.

In 2010, RBG's Trinidad and Tobago team was recognised for its contribution to Neal & Massy Wood Group's (NMWG's) achievement of 5,000,000 man-hours LTI free.

RBG's facilities in Point Lisas and Galeota employ approximately 430 personnel and offer the company's full range of innovative products and services including fabric maintenance, bolt torquing, fabrication and welding, scaffolding and habitat supply to the regional oil, gas and petrochemical industry.

RBG's Trinidad and Tobago country manager, Ricardo Mahadeo said, "I am very proud of our employees and we are delighted to have reached such a significant milestone. Reaching more than 2,000,000 hours without an LTI is testament to the commitment of our team to highlight and eliminate risk from our operation. It is a remarkable accomplishment and we will continue to work hard to maintain the high safety standards we have set.

"REACH has helped us achieve these excellent levels of safety by engraining good safety practice as a normal part of our daily working lives."

RBG's Group HSEQ director, Mike Mann, said, "The commitment demonstrated by our Trinidad and Tobago employees to achieve this goal is a tremendous example of the RBG safety culture we are striving for. This represents the best of our company in terms of leadership, engagement, communications, and commitment to achieving safety excellence."

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Monday, May 16, 2011

EPC Offshore Scores Stella Gig

EPC Offshore Scores Stella Gig

Monday, May 16, 2011
EPC Offshore

EPC Offshore has won a £1million contract with Ithaca Energy which will see the company provide a team of experts to support key areas of the Greater Stella Area (GSA) Development project.

The initial phase will see EPC assist in developing the concept selection process across floating production, subsea and pipeline disciplines for the development of the Stella, Harrier and potentially Hurricane reservoirs, including provision of execution strategies for each element.

A 10-strong team will be involved in the work which is the latest in a series of contact wins for the company which is on track to double its turnover in its second year of business.

EPC's chief executive officer Keith Wallace said, "This is a very important project for us and cements our position as the people who turn opportunities into assets. As we continue to grow and increase our portfolio, we are achieving some of our key strategic initiatives such as an increased market presence and increased service delivery for our clients."

Based in Albyn Terrace, EPC Offshore works with exploration and production companies to progress projects to sanction and final delivery. It uses a comprehensive and structured set of principles to achieve maximum project value, optimum resource utilization and quality assurance.

The company, which employs more than 35 people, achieved a turnover in excess of £3 million in its first year.

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Monday, April 25, 2011

FMC Technologies Scores Gig for Hibernia Southern Extension Proj.

FMC Technologies Scores Gig for Hibernia Southern Extension Proj.

Monday, April 25, 2011
FMC Technologies Inc.

FMC Technologies has signed an agreement with Hibernia Management and Development Company Ltd. (HMDC) to manufacture and supply subsea systems for the Hibernia Southern Extension Project.

The Hibernia Southern Extension Project is an expansion of the Hibernia field, located on the Grand Banks, approximately 200 miles (315 kilometers) southeast of St. John's, Newfoundland and Labrador. FMC's scope of supply includes provision for up to six subsea injection trees and wellheads, one manifold and associated control systems. All equipment will be manufactured at FMC's St. John's and Houston operations. Deliveries will commence in the second quarter of 2013.

Hibernia Field

"Hibernia Southern Extension is a significant offshore project," said John Gremp, President and Chief Executive Officer of FMC Technologies. "We look forward to supporting ExxonMobil Canada and its co-venturers' efforts and to expanding our technologies in Canada's offshore fields."

Jurong Shipyard Scores Gig for FSRU Conversion

Jurong Shipyard Scores Gig for FSRU Conversion

Monday, April 25, 2011
Sembcorp Marine

Jurong Shipyard, a wholly-owned subsidiary of Sembcorp Marine, has secured an approximately S$20 million contract from Golar LNG Energy to convert the LNG Khannur, a Liquefied Natural Gas (LNG) tanker, to a Floating Storage and Regasification Unit (FSRU) to be renamed West Java FSRU.

The 125,000-cbm LNG tanker, which arrived in Jurong Shipyard recently, will be converted into a FSRU capable of producing 500 MCFD (million cubic feet per day) of gas, with a regasification capacity of approximately 3.8 MTPA (million metric tonnes per annum).

The West Java FSRU represents Golar's fourth FSRU project for PT Nusantara Regas, a joint venture between Pertamina and PGN. On conversion completion, the vessel will be installed 15km offshore Muara Karang, Jakarta Bay, in Indonesia, where it is contracted to operate until the end of 2022, with provision for further automatic extension options to 2025 subject to certain contract conditions.

The West Java FSRU project will be Indonesia's first LNG regasifaction terminal and represents the first FSRU project in Asia.

The contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of Sembcorp Marine for the year ending December 31, 2011.

Monday, March 28, 2011

Seadrill Scores BHP Duo

Seadrill Scores BHP Duo

Monday, March 28, 2011
Seadrill Ltd.
Seadrill has been awarded two new contracts by BHP Billiton Petroleum for Offshore Vigilant in Trinidad and Offshore Resolute in Vietnam.

The three well drilling assignment for Offshore Vigilant is expected to take 150 days, and the contract value is approximately US $20 million. The two well assignment for Offshore Resolute is expected to take 90 days, and the contract value is approximately US $11 million.

Commencement of operations under the new contract for Offshore Vigilant is scheduled for the third quarter 2011, in direct continuation of existing contract and mid May 2011 for Offshore Resolute. The contract for Offshore Vigilant includes options for an additional four wells with anticipated duration of 200 days.

Alf C Thorkildsen, Chief Executive Officer in Seadrill Management, said, "This is Seadrill's first assignment for BHP. We consider this as an excellent opportunity to develop a strong relationship with BHP, one of the world's largest natural resource companies. Representing a total contract value of US$31 million, the two assignments improve the earnings visibility for our jack-ups in 2011 at market rates."