Seadrill Ltd. has secured a four year firm contract for the West Saturn drillship on April 27 with Equinor Brasil Energia Ltda for work on the Bacalhau field in Brazil.
Total value for the firm portion of the contract is expected to be approximately $380 million (inclusive of mobilization, upgrades, and integrated services revenue) with a performance bonus providing meaningful incremental opportunity. The total contract value is contingent on the final investment decision by the partnership for Bacalhau. Commencement is expected in first-quarter 2022.
The West Saturn has Seadrill’s existing, bespoke, managed pressure drilling system already installed and in conjunction with Equinor and partners, will receive further upgrades and enhancements in safety, efficiency, and environmental control.
Human factor safety enhancements to red zone management will be automated through the use of Seadrill’s AI-enabled safety technology Vision IQ. The efficiency of the drillship will be further enhanced through Seadrill’s Plato Performance solution, driving continuous improvement in repetitive drilling activities whilst delivering consistent process execution and optimization of the drilling program with improved safety.
In line with the company’s efforts to reduce emissions, the fuel consumption of the West Saturn is expected to be reduced by between 10-15% with the introduction of a combined hydrogen and methanol injection system along with other energy efficiency upgrades. Emissions of carbon dioxide (CO2) are expected to reduce by between 10-15%, and Nitrous Oxide (NOx) by between 30-80%.
“This further broadening of our long-standing relationship with Equinor is a testament to the experience and consistent operational excellence of our team,” Stuart Jackson, Seadrill’s CEO, said. “The West Saturn’s planned upgrades are a key development in Seadrill’s innovation pipeline, as the adoption of new technologies will improve drilling efficiency and reduce the environmental footprint of Seadrill and our clients’.”
Recommended Reading
Seatrium Awarded Contract for FPSO Bound for Guyana’s Stabroek
2024-05-17 - The topsides fabrication and integration contract will be for the FPSO Jaguar, bound for the Whiptail Field in the Stabroek block offshore Guyana for Exxon Mobil.
Third Suriname Find for Petronas, Exxon Could Support 100,000 bbl/d FPSO
2024-05-17 - A recent find offshore Suriname in Block 52 by Petronas and Exxon Mobil could support a 100,000 bbl/d FPSO development, according to Wood Mackenzie.
US Drillers Add Oil, Gas Rigs for First Time in Four Weeks: Baker Hughes
2024-05-17 - The oil and gas rig count rose by one to 604 in the week to May 17.
BPX Looks to Ramp US Production Over 60% by 2030
2024-05-16 - BPX Energy is looking to boost its U.S. production over 60% by 2030 as it considers bringing online a fourth processing facility in the Permian by mid-year 2025, Clark Edwards, the company’s vice president of development, said during SUPER DUG in Fort Worth.
Empire Petroleum’s Williston Drilling Program Identifies New Zones
2024-05-16 - Empire Petroleum provided updates on its Williston Basin development drilling program in its first quarter 2024 earnings results.