“Construction Scorpion “The letter “The cash
Offshore Ltd. said it has ordered a new deepwater semi-submersible drilling rig
from Keppel shipyard in
at a cost of approximately $700 million.
is expected to span 42 months with delivery in the fourth quarter of 2011”, the
Norwegian firm said.
said the decision to order the new rig followed an agreement with Petrobras
that will see the rig begin operations for the Brazilian firm in summer 2012.
of commitment has a duration of six years with potential revenue of
approximately $1.1 billion plus operating cost inflation adjustments throughout
the contract term”, Scorpion said.
flow from this contract will result in full payout of the cost of the rig during
the initial contract term”.