Aquadrill Announces Contract Award for the Capella

Source: 10/12/2021, Location: Asia

Aquadrill LLC (Aquadrill) and a subsidiary of Vantage Holdings International have reached an agreement to provide the Capella, an MPD outfitted 6th generation drillship, for a two well contract plus two priced optional wells for operations in Indonesia. The rig will be contracted to Premier Oil Andaman Limited for one well and subcontracted to Repsol Andaman B.V for a second well.

The total contract value for the firm portion of the contract is expected to be approximately $42 million and work is expected to commence in Q1 2022 following the completion of its current contract, transitioning the rig to the new Manager, relocation of the rig from Malaysia to Indonesia and contract preparation. The contract is expected to run into mid Q3 2022.

In the event the options are exercised and the work scope is similar to the firm wells, the rig is expected to be available in late Q4 2022 / early Q1 2023 and the total additional contract value is expected to be approximately $37 million.

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