Aquadrill, Diamond Offshore agree to GoM drillship charter with bp
Dec. 16, 2022
Aquadrill has extended a charter hire agreement with a subsidiary of Diamond Offshore Drilling to provide the Vela rig for operations for a 150-day drilling contract.
Courtesy Aquadrill LLC
Offshore staff
LONDON —Aquadrill LLC has extended a charter hire agreement with a subsidiary of Diamond Offshore Drilling Inc. to provide the company’s Vela rig, an MPD outfitted seventh-generation drillship, for operations in the US Gulf of Mexico (GoM) for a 150-day drilling contract.
The expected total contract is valued at about $60 million.
The terms of the charter hire agreement are consistent with the current management services agreements in place between Aquadrill and Diamond. Further, the resulting financial benefits for Aquadrill are as if the company had entered into the drilling contract directly.
Concurrent with extending the charter hire for this new work scope, an agreement to suspend the underlying drilling contract related to the charter hire for the rig running from January to August 2023 has been entered into.
This contract will be suspended after the first well, and the new 150-day work scope will commence in direct continuation.
The rig is expected to return to the initial underlying drilling contract in August 2023 and continue with the remaining firm work plus options if exercised.
