Ship Finance International Limited (NYSE: SFL) has agreed to bareboat charter out the 2007-built drilling rig Soehanah to an unnamed national oil company in Asia.
The 12 month lease agreement comes with an option to extend the charter by an additional 12 months.
The rig was redelivered to SFL in April, following a full 10-year special survey paid for by the previous charterer.
The net EBITDA is expected to be approximately $4m during the fixed period of the charter, and the rig is now being mobilized with expected startup of the drilling operations in the second quarter of 2017.
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