Malaysia’s Perisai Petroleum has informed that Hess Corporation has hired its Perisai Pacific 101 jack-up rig.
The company explained in a Bursa Malaysia filing on Friday that the contract agreed between its 51%-owned subsidiary Perisai Offshore Sdn Bhd and Hess, was actually a farm-out agreement.
This means that the rig, originally contracted by the Malaysian oil company Petronas Carigali in 2014, on a three-year contract, will now be taken by Hess on a 9-month deal.
Following the completion of the contract with Hess, which also has an option to extend for a month, the Perisai Pacific rig will be reassigned to Petronas Carigali.
The total value of the Hess contract is around $26.9 million.
The Perisai Pacific 101 is a Pacific Class 400 jack-up drilling rig constructed by PPL Shipyard Pte Ltd. It is designed and equipped to drill high-pressure and high-temperature wells as deep as 30,000 feet. It is capable of operating in water depths of up to 400 feet and can accommodate a crew of 150.
Offshore Energy Today Staff