Buccaneer Energy Limited has executed a Repair Contract with Keppel FELS Shipyard in Singapore for the repair and modification of the jack-up rig, Endeavour. The rig was recently acquired from Transocean Offshore Resources Limited for the total purchase price of US$68.5 million.
The Endeavour is currently in dry dock undergoing the first stage of the work program, with completion expected in the next 10 days. The second stage will commence in January 2012 and will consist of upgrades to the accommodation quarters, blasting and painting of surfaces, winterising, and refurbishing of tanks and piping systems.
Concurrently, approximately 30 other individual contractors are in various stages of assessing and/or dismantling drilling equipment for assessment, to ascertain what work needs to be completed. In the majority of cases, this work is being done by the original equipment manufacturers, most of whom have workshops in Singapore.
Rig Bound for Cook Inlet
This work, when completed, will bring the Endeavour back to full operational capability and capable of drilling in the Cook Inlet, Alaska.
The Endeavour jack-up rig was selected following a rigorous global search process. Its existing capabilities make it suitable for most water depths that exist in the Cook Inlet and northern Alaskan waters.
It is anticipated that the Rig will arrive in the Cook Inlet for the 2012 drilling season in April / May 2012
The first well expected to be drilled by the Endeavour will be located on Buccaneer’s 100% owned Southern Cross project where Netherland, Sewell & Associates have estimated Proven & Probable (2P) Reserves of 12.7 MMBOE and an additional P50 Resource of 14.7 MMBOE.
Offshore Energy Today Staff, December 21, 2011; Image: Bucaneer