Neptune Explorer ready for Reliance

Vol 11, PW 15 (15 Nov 07) News in Brief

Deepwater drillship Neptune Explorer is likely to reach India’s east coast for Reliance by the end of this month or early next month following a major upgrade at the Sembawang shipyard in Singapore.

“All I hear is that it is on schedule to be deployed offshore Kakinada end-November,â€‌ reports a source. “But it might slip into early December.

You can never tell in the last days of commissioning.â€‌ Cyprus-incorporated Neptune Marine bought the â€کcold stacked’ Neptune Explorer rig - earlier known as Northern Explorer - in April 2005 and signed a three-year contract with Reliance in June the following year at an Operating Day Rate of $310,000, with an option to extend the contract by three years at prevailing market rates when it ends in 2010.

Neptune Explorer sailed into the Sembawang yard for its upgrade in October last year. Designed to drill in 5000-ft (1524-metre) water depths, it is being refurbished to drill in 3500-ft (1066-metre) water depths for Reliance.