Asia Offshore Drilling (AOD) has received three-year contract extensions for two jack-up rigs from Saudi Aramco.
AOD is an associate company of Mermaid Maritime and Mermaid has 3.76 percent equity stake in AOD while the other 66.24 percent equity is owned by Seadrill.
The extension is for two jack-up drilling rigs, AOD I and AOD II, which are now expiring in June 2019 and July 2019, respectively.
The extensions are in direct continuation of the current contracts and will add approximately $225 million in contract backlog.
These units have been working for Saudi Aramco since 2013 on a three-year contract that contained one extension option.
Both jack-up rigs were built in 2013 by Keppel FELS Shipyard and both have maximum drilling depth of 400 feet.
AOD has another jack-up rig under a three-year contract with Saudi Aramco which is due to expire in October 2016. Mermaid said on Friday that negotiations with Saudi Aramco for contract extension for the AOD III jack-up are still ongoing.
Offshore Energy Today Staff