No hurry at GSPC to announce rig tender winners

Vol 12, PW 19 (26 Feb 09) Exploration & Production

Anyone anxious about GSPC’s rig tenders for one jack-up and two semi-submersibles would be forgiven for thinking the Gujarat-based explorer has forgotten to make an announcement.

But it hasn’t! “What’s the hurryâ€‌ says a source. “Both Atwood Beacon and Deep Driller 1 are still working for us.

â€‌ Why Atwood Beacon and Deep Driller 1 Because these two rigs emerged lowest bidders from five offered when price bids for jack-ups were opened on February 6. Atwood Beacon owner Atwood Oceanics offered the rig at $135,000/day.

Next cheapest was Deep Driller 1 from Premium Drilling, offered at $147,000/day. Both rigs are already with GSPC at KG shallow water block KG-OSN-2001/3, where Atwood Beacon is drilling well KG#33 and Deep Driller 1 is drilling well KG#32.

Other jack-ups offered were Hakuryu 10 from Japan Drilling, at $180,000/day and under construction Sapphire Driller from Vantage Energy, at $184,000/day. New kid on the block Indian driller Tuff Drilling’s offer of a â€کnew-build’ was rejected.

“Tuff offered no clear details such as the rig’s name or the yard where it is being built so there was no way such an offer could be accepted,â€‌ we hear. Most expect GSPC to award the Letter of Intent to Atwood Beacon but its lethargy in making a formal announcement is best explained by the fact that the prices are valid for 120 days from the date of submission – or for the next four months! Similar silence surrounds the winners of two separate tenders from GSPC for semi-submersibles: one for a floater with a 10,000-psi BOP stack and another with a 15,000-psi BOP stack, ostensibly to replace Essar Wildcat, which is also drilling at KG-OSN-2001/3.

Luckily for Wildcat owners Essar Oilfields Services, the two rigs offered: Songa Mercur from Songa Offshore and Stena Clyde from Stena Drilling, were both rejected on technical grounds. In the 10,000-psi BOP category, Atwood Oceanics again emerged victorious, offering Atwood Southern Cross at $190,000/day.

Transocean offered C. Kirk Rhein at $285,000/day while Frontier Discoverer from Frontier Drilling and Borgsten Dolphin from Dolphin Drilling were rejected on technical grounds.