Three rigs prepare for 98/2 deployment

Vol 21, PW 1 (05 Oct 17) News in Brief

Despite regular delays in its EPC tenders, there's little doubt ONGC is committed to development of its flagship deepwater block KG-DWN-98/2.

Very soon, three rigs will be on location. Vantage Drilling deepwater drillship Platinum Explorer is expected off eastern India around October 20 for her three-year ONGC contract.

Platinum is currently off Labuan in Malaysia for dynamic positioning system tests. Olinda Star owned by Brazil's QGOG left Rio de Janeiro on September 13 and is expected off Sri Lanka mid-October before heading to 98/2 a week later.

Olinda Star was contracted to mobilise by August 15 so QGOG will be charged a penalty of 0.5% of the annual contract value for every week of delay with a 5% ceiling. Also ready to move to 98/2 is Universal Energy semi-submersible SSV Louisiana, currently off Brazil taking on equipment.

Louisiana is meant to mobilise by December 21 but will be late and can also expect a penalty. ONGC issued LoAs to Platinum and Louisiana on June 22, hiring each at $108,599/day.

Star was hired on April 12 at $129,573.83/day.

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