ENSCO Enters US$372m Contract

Offshore drilling contractor ENSCO International has entered a letter of intent with an undisclosed company for the ENSCO 8503, an ultra-deepwater semisubmersible rig currently under construction.

The two-year contract will cost approximately US$372m, with a daily rate of US$510,000.

The ENSCO 8503 boosts the company's ultra-deepwater semisubmersible fleet to five rigs.

The rigs will be capable of drilling in up to 8,500ft of water but can be upgraded for depths of 10,000ft.

By staff writer