North Atlantic Drilling Awarded $100m Rig Contract

22 May 2011 (Last Updated May 22nd, 2011 18:30)

North Atlantic Drilling has won a $100m contract to operate its semi-submersible drilling rig West Alpha on the Norwegian Continental Shelf. The letter of award underlines a two-well commitment in the Balder field, which is expected to take seven months to complete. The o

North Atlantic Drilling has won a $100m contract to operate its semi-submersible drilling rig West Alpha on the Norwegian Continental Shelf.

The letter of award underlines a two-well commitment in the Balder field, which is expected to take seven months to complete.

The operator also has an option to extend the contract to cover an additional four wells.

Seadrill Management CEO and North Atlantic Drilling chairman Alf Thorkildsen said the contract demonstrates the continued strong demand for quality drilling units in the North Atlantic – Norway area and further enhances the value of North Atlantic Drilling.

Work under the contract is scheduled to begin in the third quarter of 2012.

Seadrill holds a 75% interest in North Atlantic Drilling.