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Total extends drillship deal with Pacific
Posted 25.05.2012 08:16:38 av John Bradbury
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Total has exercised options to keep operating with a drillship owned by Pacific Drilling.

Under a newly agreed multi-million dollar deal, Pacific says Total has decided to extend the initial contract term for the drillship Pacific Scirocco from one to two years. Further options allow Total to  keep the ultra-deepwater drillship for another three years, with an escalating dayrate.

Pacific says the expect contract revenue from the additional year will be $173 million, increasing the rig's contract backlog to $307 m.

“Pacific Scirocco has performed extremely well to date, exceeding historical industry expectations for the start-up of an ultra-deepwater drillship,” said Chris Beckett, chief executive of Pacific. He said the decision of Total to extend the contract recognises the rig's performance so far.

The Scirocco is capable of drilling in up to 12,000 feet of water, and to a drilling depth of 40,000 ft.
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