Eni Muara Bakau, a subsidiary of Searah that represents a joint venture between Eni and Petronas, has prolonged a drilling assignment being conducted off the coast of Indonesia by a semi-submersible rig owned by Brazil’s deepwater offshore drilling contractor Ventura Offshore.
Searah’s Eni Muara Bakau has exercised the option for the SSV Catarina semi-submersible rig to drill the fourth well and top hole in Indonesia. The original contract began in August 2024 after Ventura Offshore began trading in June 2024 on the Euronext Growth stock exchange market in Oslo, Norway.
The exercise of these wells is expected to keep the 2012-built rig utilized into the fourth quarter of 2026 and further increases the company’s firm backlog by approximately $25.1 million.
The SSV Catarina rig is suitable for operations in ultra-deepwater depths of up to 10,000 feet (3,050 meters) with drilling depths of up to 35,000 feet (10,668 meters).
This contract extension comes months after Ventura Offshore picked up a 135-day extension for the DS Carolina drillship in Brazil.