Scorpion Offshore Signs Contract for Drilling Rig
September 8, 2008
Scorpion Offshore, engaged in building, operating and chartering jack-up offshore drilling rigs, through its local Malaysian affiliate, has signed a contract with Sarawak Shell and the Sabah Shell Petroleum Company for the Offshore Courageous rig for operations offshore Malaysia beginning in January 2009.
The contract is for three years plus a one-year option, and provides for annual operating cost escalations. The firm contract is estimated to generate $174 million in revenue.
The Offshore Courageous is currently offshore Oman performing its contract for RAK Petroleum through October 2008.