Offshore rig owner Island Drilling has secured a contract extension for its semi-submersible rig, which will prolong the rig’s assignment in the UK.
Island Drilling revealed on Thursday that Dana Petroleum had exercised the optional work for the Island Innovator drilling rig. Thanks to this extension, the rig’s total work in the UK is estimated to be 110 days. According to the rig owner, this assignment is scheduled to start in April 2023.
This optional well is part of the second contract inked with Dana Petroleum in the UK, which was announced in October 2022 for three firm wells. As explained at the time, the firm work was estimated at 80 days and the optional part at 30 days with the total contract value estimated at $30 million. The first deal with Dana Petroleum was awarded in late October 2021 and completed in July 2022 .
After completing the work for Dana Petroleum, the rig will embark on its assignment with Trident Energy to carry out a drilling campaign offshore Equatorial Guinea. This job is slated to start in September/October 2023.
The 2012-built Island Innovator rig is a sixth-generation semi-submersible drilling, well intervention and completion unit of GM4000 WI enhanced design.