Great Offshore rig almost ready

Vol 13, PW 18 (25 Feb 10) News in Brief

Mumbai-based drilling contractor Great Offshore doesn’t think it will be too difficult to get a contract for its â€کnew-build’ jack-upV-351, which should be ready around September or October this year.

According to Great Offshore, global rig counts are improving, oil prices are stabilising and exploration programmes worldwide are being revived.V-351was previously known asSamed Shikharbut the name has been changed, we learn, to match its hull number.

This rig can drill in 350-metre water depths and is being built by Indian company Bharati Shipyard.V-351was originally promised to ONGC by May 2009 for a five-year contract at $149,919/day.

But Great Offshore missed the deadline and narrowly avoided being put on an ONGC blacklist.ONGC took no action, we hear, because Dutch rig inspection agency Moduspec saidV-351would not be ready before October 3 this year and, more importantly, because Great Offshore is an Indian company.

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