ENSCO has secured a Northwest Europe contract for its on-order ultra-premium harsh environment jack-up rig Ensco 120 with Nexen Petroleum. Total contract value could reach $260million if the many options are exercised.
The rig is to be employed by Nexen on its Golden Eagle Development in the UK sector of the Central North Sea for 10 wells. The estimated initial contract value of the contract is some $120million.
The task is scheduled to start during Q4 2013 following systems integration testing, and mobilisation.
Nexen may extend the term of the contract via 11 one-well options that would increase the contract value by an estimated $140million.
Announcing this premium North Sea deal, Dan Rabun, Ensco’s chairman, president, and CEO, said: “We are very pleased that Nexen has contracted Ensco 120, which is scheduled for delivery in second quarter 2013.
“Nexen will receive unmatched value and increased drilling efficiencies from this extremely capable and versatile rig, as well as Ensco’s expertise and experience operating in the North Sea.”
The Ensco 120 class of jack-up rig so far comprising the Ensco 120, Ensco 121, and Ensco 122) is being constructed at Keppel FELS shipyard in Singapore.
These new units will basically be enhanced versions of the KFELS Super A design capable of operating in water depths to 122m (400ft).
Ensco says the class incorporates features that will “significantly increase” its ability to provide high specification, harsh environment jack-ups for the North Sea, which is an important market for the company.
With high-temperature, high-pressure equipment, a proprietary Ensco high-capacity design cantilever envelope, 2.5million pounds capability quad derrick, automated hands-free offline pipe handling systems, ultra-high capacity jacking and fixation systems, 150-person quarters, and strict noise and ergonomic standards, these rigs feature equipment and capabilities previously found only aboard the largest ultra-harsh environment jack-ups.
They are claimed to set a new standard in the harsh environment category and considered by Ensco to be well suited for the most demanding large multi-well platform programmes, ultra-deep gas campaigns and ultra-long reach wells up to 12,200m (40,000ft) total drilling depth.
The Ensco 121 and Ensco 122 are scheduled for delivery in Q4 2013 and Q3 2014, respectively.