Seadrill Secures $380 Million Contract On Bacalhau Field

<p>&nbsp&semi;<&sol;p>&NewLine;<p><em>Seadrill Secures Equinor’s four-year contract<&sol;em><&sol;p>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that Seadrill&comma; a drilling company listed on the Oslo Stock Exchange and setting the standard in shallow&comma; ultra-deep water and offshore drilling in both harsh and benign environments&comma; has secured a four-year firm contract with four one-year options&comma; for the West Saturn drillship with Equinor for work on the Bacalhau field in Brazil&period;<br &sol;>&NewLine;This is contained in the latest edition of Drilling Contractor&comma; the official magazine of the International Association of Drilling Contractors&comma; IADC&comma; made available to OpenLife Nigeria&period;<br &sol;>&NewLine;According to the information&comma; the total value for the firm portion of the contract is expected to be approximately &dollar;380 million &lpar;inclusive of mobilization&comma; upgrades and integrated services revenue&rpar; with a performance bonus providing meaningful incremental opportunity&period;<br &sol;>&NewLine;The total contract value is contingent on the final investment decision by the partnership for Bacalhau&period; Commencement is expected in Q1 2022&period;<br &sol;>&NewLine;The West Saturn has Seadrill’s existing&comma; bespoke&comma; managed pressure drilling &lpar;MPD&rpar; system already installed and&comma; in conjunction with Equinor&comma; will receive further upgrades and enhancements in safety&comma; efficiency&comma; and environmental control&period;<br &sol;>&NewLine;Human factor safety enhancements to red zone management will be automated through the use of Seadrill’s AI-enabled safety technology Vision IQ&period;<br &sol;>&NewLine;The efficiency of the drillship will be further enhanced through the company’s Plato Performance solution&comma; driving continuous improvement in repetitive drilling activities whilst delivering consistent process execution and optimization of the drilling program with improved safety&period;<br &sol;>&NewLine;In line with Seadrill’s efforts to reduce emissions&comma; the fuel consumption of the West Saturn is expected to be reduced by between 10-15&percnt; with the introduction of a combined hydrogen and methanol injection system along with other energy efficiency upgrades&period; Emissions of carbon dioxide &lpar;CO2&rpar; are expected to reduce by between 10-15&percnt;&comma; and Nitrous Oxide &lpar;NOx&rpar; by between 30-80&percnt;&period;<br &sol;>&NewLine;&OpenCurlyDoubleQuote;This further broadening of our long-standing relationship with <a href&equals;"https&colon;&sol;&sol;www&period;wsj&period;com&sol;">Equinor<&sol;a> is a testament to the experience and consistent operational excellence of our team&comma;” said Stuart Jackson&comma; CEO of Seadrill&period; &OpenCurlyDoubleQuote;The West Saturn’s planned upgrades are a key development in Seadrill’s innovation pipeline&comma; as the adoption of new technologies will improve drilling efficiency and reduce the environmental footprint of Seadrill and our clients’&period;”<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;