Premier Oil and Repsol to Start Deep Sea Drilling in Andaman Block

Summary

Aquadrill LLC and a subsidiary of Vantage Holdings International have reached an agreement to provide the Capella, an MPD outfitted 6th generation drillship, to drill two wells with an option for two more. The rig will be contracted to Premier Oil Andaman Limited for one well and subcontracted to Repsol Andaman B.V. for a second well, as reported by Energyvoice.com.

In a statement on the Aquadrill website, the total contract value for the firm portion of the contract is expected to be approximately US$42 million. The drilling will start in Q1 2022 following the completion of its current contract, transitioning the rig to the new operator, rig relocation from Malaysia to Indonesia, and contract preparation. The contract is expected to run into mid-Q3 2022. In the event that the options are exercised and the work scope is similar to the firm wells, the rig is expected to be available in late Q4 2022 or early Q1 2023, and the total additional contract value is expected to be approximately US$37 million.

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