GlobalSantaFe to Provide 4 Jackup Rigs
- Pipeline
- Saudi Aramco News
- Industry News
Author: Aramco ExPats
Released 19 June 2006
Worldwide offshore oil and gas drilling contractor, GlobalSantaFe Corporation has announced today that it has signed a contract with Saudi Aramco to provide four jackup rigs for four-year terms, beginning in the first half of 2007.
The four rigs, the GSF Main Pass I, GSF Main Pass IV, GSF High Island I and GSF High Island II, are scheduled to mobilize in pairs in the fourth quarter of 2006 from the U.S. Gulf of Mexico to drilling locations offshore of Saudi Arabia. The contract commencement is expected in March and April of 2007.
"We are very pleased to resume a long and mutually beneficial relationship with Saudi Aramco that dates back more than 30 years," said GlobalSantaFe President and CEO Jon Marshall. "This agreement supports Saudi Aramco's continuing expansion of its exploration and development drilling programs to supply the world's increasing demand for energy, and it provides our shareholders with attractive returns through improved rates and considerably longer terms compared to those available in the Gulf of Mexico."
The Saudi Aramco agreement is the largest drilling contract ever signed by GlobalSantaFe, and it is believed to be the largest jackup agreement in the history of the offshore drilling industry.