jws01us posted on 2/17/2010
Dragon Oil has awarded a contract to the Momentum Group - and its consortium partners Yantai Raffles Offshore China and TSC Offshore China - for the lease and management of one newbuild jackup.
A Friede & Goldman Super M2 jackup design is the unit included in the contract announced on 17 February 2010. The Super M2, which is based on F&G's L780 ModII jackup, can operate in up to 300ft of water and has a drilling depth of 30,000ft. There are 14 Super M2s under construction throughout the Middle East and China.
Momentum, as the drilling contractor, will be responsible for the operation, management, logistics and maintenance of the rig and base station. Yantai will construct the rig, and TSC will provide the drilling equipment.
Modules will be fabricated in China and shipped to the Caspian Sea for testing. The jackup is expected to be delivered sometime in 4Q 2011, and will likely be sent from China to the Caspian Sea in modules for assembly and acceptance testing. Dragon intends to use the jackup in the Cheleken contract area offshore Turkmenistan for five years with options to extend.
by: Trevor Demara,
tdemara@oilonline.com