Ensco plc announced today that a subsidiary of the Company has entered into a drilling contract for ENSCO 8504 with TOTAL E&P Deep Offshore Borneo B.V. Delivery from the shipyard in Singapore is planned for the end of July 2011 and the contract commencement will follow sea trials and mobilization to Brunei.
Chairman, President and Chief Executive Officer Dan Rabu n commented, “We are very pleased that TOTAL has chosen ENSCO 8504 for its drilling program. Our ENSCO 108 jackup drilling rig currently is working for TOTAL in Brunei and we appreciate the opportunity to expand our relationship with our latest 8500 Series rig. Brunei is an emerging deepwater basin and we look forward to entering this market with one of our deepwater rigs for the first time.”
The initial contract term is for drilling three exploration wells for a minimum of 180 days with a base day rate of $423,500. TOTAL may extend the term by exercising up to four options. The first two options may be exercised to complete up to three additional wells at the same day rate. The third and fourth options may be exercised to complete up to six additional wells at an escalated day rate. The fee for rig mobilization from Singapore to Brunei is $3.5 million.
When ENSCO 8504 commences operations later this year, it will become the sixth ultra-deepwater rig in the active fleet. Ensco’s other deepwater rigs are contracted in Brazil, the U.S. Gulf of Mexico and French Guiana. Two additional ENSCO 8500 Series® rigs are under construction with deliveries scheduled in the first and second half of next year.
Ensco plc brings energy to the world as a global provider of offshore drilling services to the petroleum industry. With a fleet of ultra-deepwater semisubmersible and premium jackup drilling rigs, Ensco serves customers with high-quality equipment, a well-trained workforce and a strong record of safety and reliability. Ensco recently earned the top rating for overall customer satisfaction in the leading independent survey conducted by EnergyPoint Research with #1 rankings in eleven separate categories. Ensco plc is an English limited company ( with its registered office and corporate headquarters located at 6 Chesterfield Gardens, London W1J 5BQ.
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Source: Ensco plc, April 22, 2011; Image:Kepcorp