Indian driller Aban Offshore said the jack-up rig Murmanskaya is primed to start a $10 million gig with Husky Oil’s Chinese offshoot after ExxonMobil’s Russian unit terminated the rig’s contract that was set to start next month.
Aban Offshore informed the Bombay Stock Exchange that ExxonMobil has terminated its contract with Beta Drilling regarding the rig Murmanskaya. The deal was worth $34 million for a two well campaign that was expected to last 160 days off Russia. The outfit added that it has received a letter of intent for a one well contract with Husky Oil for around 50 days with estimated revenues of $10.53 million. The 1991-built jack-up is an independent-leg cantilever unit capable of operating in water depths up to 300 feet. Norwegian rig contractor Sinvest owns Beta Drilling, which currently holds the rights to charter the jack-up drilling rig Murmanskaya, which belongs to Russian state-owned outfit Arcticmorneftegazrazvedka (AMNGR). Aban Offshore owns Sinvest through its various subsidiaries. Aban Offshore has a market capitalization of $500 million. The outfit currently owns eight rigs, one drillship and one floating production unit, all hooked up on long-term deals.
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