Offshore staff
HOUSTON — The VALARIS 115 rig is officially heading to Brunei to begin operations for Brunei Shell Petroleum, according to a Valaris Ltd. LinkedIn post.
After departing the shipyard on March 31, the rig is expected to arrive in Brunei after an estimated 10-day voyage.
"We look forward to witnessing this remarkable rig in action, as it is set to begin its contract later this month," Valaris posted.
In July of last year, Valaris received a four-year contract with Brunei Shell Petroleum Sdn. Bhd. offshore Brunei for heavy-duty modern jackup VALARIS 115. The contract, which was expected to start in April 2023, began on time, and it has a total contract value of about $159 million.
Shell and the Brunei government are 50:50 shareholders in Brunei Shell Petroleum Co. Sendirian Berhad (BSP). BSP has long-term oil and gas concession rights onshore and offshore Brunei and sells most of its gas production to Brunei LNG Sendirian Berhad, with the remainder (23% in 2020) sold in the domestic market, according to Shell's website.
In addition to Shell's interest in BSP, the company has a 35% non-operating interest in the offshore Block B concession, where gas and condensate are produced from the Maharaja Lela Field.
Moreover, Shell completed the acquisition of Total E&P Deep Offshore Borneo B.V. in 2020, and renamed the company Shell Exploration and Production Brunei B.V. The acquisition provided an operator interest in the deepwater Block CA-1 (Shell interest 86.95%) under a production sharing contract.
04.05.2023
