Deepwater Pathfinder for Reliance

Vol 11, PW 11 (04 Oct 07) News in Brief

Reliance has decided to hire Transocean’s deepwater drilling rig Deepwater Pathfinder, currently drilling for Shell in Nigeria.

PETROWATCH learns discussions between Reliance and Transocean concluded a few days ago. “Reliance has secured Deepwater Pathfinder at a day rate of $525,000,â€‌ says a source.

“Pathfinder will be on contract to Reliance for three â€کfirm’ years plus â€کoptions’ of one plus one year. Reliance has been in talks with at least five drilling contractors for an ultra-deepwater rig that can work in water depths of up to 10,000-ft.

By all accounts Deepwater Pathfinder fits the bill. Deepwater Pathfinder is a dynamically positioned drillship built on a design by Conoco/Reading & Bates.

Reliance’s decision to opt for Deepwater Pathfinder raises a question mark over talks with other deepwater drilling contractors Frigstaad Offshore, Sevan Drilling, Pride International and Ocean Rig. Unclear is when Deepwater Pathfinder will be mobilised for Reliance.