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Energy Drilling bags Tender Rigs Asset Management

Energy Drilling Management Pte Ltd (EDMPL) has entered into a Management Agreement with Seadrill Partners LLC (SDLP) to maintain, market and operate the tender rigs Seadrill-T15, Seadrill-T16 and West Vencedor, on their behalf, effective 3rd February 2021.

After the transaction, EDMPL will effectively market and eventually operate a fleet of six tender rigs comprising of four barge-type and two semi-submersible type tender rigs.

The rigs are preserved in Singapore, Malaysia and Indonesia and plans are in place to transition the rigs from Seadrill Management to Energy Drilling Management. The rigs will be actively marketed by EDMPL to Operators in the region and West Africa who are familiar with the deployment of tender rigs for development drilling on fixed platforms in shallow waters and Spars and TLPs in deep-waters.

“We are delighted that SDLP has chosen to entrust their assets to be managed by EDMPL after an extensive worldwide search amongst drilling contractors. This clearly demonstrates the value proposition offered by Energy Drilling in a competitive market. This transaction will help consolidate the tender rig sector as we enter into a market that is showing early signs of recovery.”, said Marcus Chew, CEO of Energy Drilling.

“We are impressed by the knowledge and professionalism shown by the Edrill team throughout the selection process. Their effective cost structure and their unique focus on the tender rigs segment of the drilling market will translate to the best chances of helping these assets to get back to work.”, said John Roche, CEO of Seadrill Partners.

Note:- The management agreement is solely for the three tender rigs belonging to SDLP and not the other rigs that are owned by SDLP.