Neptune Explorer in India after November

Vol 11, PW 4 (28 Jun 07) News in Brief

Deepwater drillship Neptune Explorer is unlikely to reach India before November to begin work for Reliance.

Neptune is at the Sembawang Shipyard in Singapore undergoing a major upgrade. On 4th June, rig owner Neptune Marine Oil & Gas said in a press release she would sail to India after the upgrade in July.

“It is not possible,â€‌ says a source in Singapore. “I don’t think the drillship will be ready by July.

At the earliest, she can come out of the yard in October or November.â€‌ Why the delay “Delivery of equipment for the drillship is delayed.

â€‌ Reliance has hired Neptune on a three-year â€کfirm’ contract at $310,000 per day. “It’s a very good rate (for Reliance),â€‌ says a source.

Capable of drilling in water depths of 1065 metres, Reliance was originally expecting Neptune six months ago. Reliance is also facing delay in the arrival of Transocean rigs Discoverer 534 and Deepwater Expedition, both of which are now expected in September, instead of next month.