Saudi Aramco takes EDC jack-up on a five-year contract

The article has been updated to include the fact that Bassoe Offshore and EDC have also confirmed the rig charter by Saudi Aramco


World’s largest oil company Saudi Aramco has chartered the Setty jack-up drilling rig from Egyptian Drilling (EDC).

For Illustrative purposes only: Image by Budak/Flickr, shared under CC BY-NC-ND 2.0 license

Data released on Friday by VesselsValue shows that Saudi Aramco will take the Singapore-built jack-up on a five-year contract.

According to VesselsValue, a website providing rig and vessels valuation along with the news on new charters, the contract is expected to start in September 2019 and will run till late August 2024. The website did not share the financial details of the reported contract for the rig.

VV data showing Saudi Aramco has taken the Setty rig on a five-year contract

Bassoe Analytics, an online tool by rig brokers Bassoe Offshore, has eventually also confirmed the rig deal between Saudi Aramco and Egyptian Drilling. The Norwegian rig broker’s Bassoe Analytics tool (as of recently available as an app too), also confirms the deal is for five years. Bassoe goes a tad further than VV, providing an estimated dayrate – $65000.

Bassoe Analytics screenshot confirming the deal.

Offshore Energy Today has reached out to Saudi Aramco, and the rig owner EDC seeking confirmation and more info. EDC responded on Tuesday, confirming the contract. As for the dayrate,  the drilling company said it was confidential info “which we can’t disclose.” It also said that the $65000 estimate was not correct.

According to VesselsValue, the Setty jack-up rig has been warm-stacked since August 2016. This corresponds to data from Total which released the rig on August 31, 2016 following the completion of the drilling operations in Gabon. The rig is of Baker Marine Pacific design and is capable of drilling to depths of 30,000 ft in water depths up to 375 ft.

Offshore Energy Today Staff

 

Share this article

Follow Offshore Energy Today

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply