GSPC hires Atwood Beacon for KG-OSN-2001/3

Vol 9, PW 9 (11 Aug 05) News in Brief

Gujarat State Petroleum has hired jack-up rig Atwood Beacon for work at KG-OSN-2001/3.

PETROWATCH learns a Letter of Intent was issued for the rig on 22nd July. GSPC has hired Atwood Beacon for a one-year firm contract plus two optional extensions of one year each.

We understand Atwood quoted $115,000 per day for the one-year contract. Final rates for the extension have not yet been agreed.

Atwood Beacon is now drilling offshore Vietnam on a contract for four firm and two optional wells. If the operator decides not to drill the optional wells, Atwood Beacon could be on location for GSPC as early as December this year.

Otherwise she will reach India in March next year. GSPC will use Atwood Beacon for appraisal and development drilling.

Built in 2002, Atwood Beacon is a 400-feet jack-up with a 15,000-psi stack.