Seadrill acquires multi-million dollar Songa Eclipse ultra-deepwater rig

Offshore rig on seaThe Songa Eclipse is currently running for Total Offshore Angola on a fixed contract ending in December 2013. (Image source: arbyreed)

A subsidiary of offshore drilling contractor, Seadrill, has signed into an agreement with Songa Offshore to acquire the ultra-deepwater semi-submersible rig Songa Eclipse for US$590mn

The rig, which was shipped in from the Jurong Shipyard in Singapore in 2011, is currently running for Total Offshore Angola on a fixed contract that ends in December 2013.

"This investment is in line with our strategy of building a modern fleet through selective acquisitions and organic growth,” said Fredrik Halvorsen, CEO of Seadrill Management AS.

“The ultra-deepwater market is in a strong cycle, something we expect to prevail over the coming years and the acquisition increases our exposure to this segment.

“Furthermore, we are pleased to strengthen our relationship with Total in Angola, and increase our presence in the region, which adds scale to our operations and could further reduce our relative cost base in the region."

Songa Eclipse is equipped with Aker Solutions drilling tools which have water depth capability up to 3,048 metres and a drilling depth capacity reaching 11,430 metres.

The subsea well control system contains a six-ram 15,000 psi BOP stack.

Total has been given three one-year options to further prolong the contract while delivery of the rig is expected during December 2012.

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