JDC sells Sagadril-2 jack-up for demolition

Sagadrill-2 / Image by Japan Drilling Company

Japan Drilling Company has sold the Sagadril-2 jack-up rig for demolition to an unnamed entity.

The Japanese driller said on Monday the rig, formerly known as Hakuryu-7, had been sold on January 5, 2018.

The 1981-built Sagadril-2 operated mainly in the Middle East in the last 20 years.

While Japan Drilling Company did not share the sale price of the rig nor the buyer’s identity, Norway-based Bassoe Offshore’s data shows the rig has been sold to GMS for $1.9 million.

Also, VesselsValue estimates the rig’s demolition value at $1.73 million. VV calculates the value from the LDT of the rig and the scrap price per ton of steel for the sector.

 

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