GSPC shelves plan to replace Wildcat

Vol 12, PW 8 (04 Sep 08) News in Brief

Essar Oilfields has received some good news for its Essar Wildcat rig, which has been “arrestedâ€‌ as part of a legal row with Norway-based Norscot Oil and Gas (See: Story 9).

PETROWATCH learns GSPC has shelved plans to replace the trouble-prone Wildcat at eastern offshore KG-OSN-2001/3. An industry source says GSPC received just two bids to its July tender for a semi submersible: Stena Clyde from Stena Drilling and an undisclosed rig from Neptune Marine.

The Stena semi submersible is available within GSPC’s December 2008 mobilisation schedule but at $535,000/day. Neptune’s semi submersible is cheaper at $515,000/day, but available only from 2010 - after the GSPC deadline.

We understand GSPC bosses stepped back when they saw the day rates for both rigs - much higher than Wildcat hired in November 2007 for three years at $317,000/day. “Wildcat will return late October,â€‌ says GSPC, “There’s no point pursuing this tender now.