Seadrill to purchase CJ70 harsh-environment jackup from Sembcorp Marine

By Phaedra Friend Troy

Offshore drilling contractor Seadrill (SDRL) has signed a letter of intent to purchase a harsh-environment jackup drilling rig from Sembcorp Marine’s Jurong Shipyard.

The CJ70 harsh-environment jackup drilling rig was originally contracted for construction at the Jurong Shipyard in Singapore by Petropod. In 2009, Petropod went into official liquidation, and Jurong Shipyard terminated the contract for the construction of the heavy-duty jackup when no further payments were received on the rig.

Although Seadrill has not yet announced the LOI, Statoil announced yesterday that it has signed an LOI with Seadrill for the Gusto MSC CJ70 150A jackup, which is currently under construction in the Jurong yard. For a consideration of $650 million the rig will work in the Norwegian Continental Shelf for a firm five years. This rig is scheduled to start drilling in 2011.

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