Oil major BP has awarded a new contract for Seadrill Partners’ West Vela drillship for work in the U.S. part of the Gulf of Mexico.
Seadrill Partners said on Thursday that the latest extension would keep the West Vela busy with BP until early April 2021.
Apart from the offshore driller stating that the value for the firm portion of the contract was expected to be $23.8 million, the company did not provide any additional details regarding the BP extension.
The drillship has been working for BP for a fairly long time. Namely, the West Vela has been under contract with the oil major since November 2013.
The initial deal had a $575,000 day rate plus approximately $44,000 per day as a mobilization fee paid over the term of the contract and was set to expire in November of 2020. According to information provided by Bassoe Offshore, the day rate for the extension has dropped substantially to $170,000.
The West Vela is a 6th generation dynamically positioned ultra-deepwater drillship delivered in 2013 by Samsung Heavy Industries in South Korea.
It is worth reminding that Seadrill Limited sold its ownership of the drillship to Seadrill Partners back in November 2014.
Source: Offshore Energy