Aquadrill wins contract worth up to $79m for Capella drillship in Indonesia

Aquadrill said that it has reached an agreement alongside a subsidiary Vantage Holdings International to supply the Capella drillship for drilling operations in Indonesia.

According to the drilling contractor, the contract is for two wells and comes with two optional wells.

The MPD outfitted sixth generation drillship will be subcontracted by Premier Oil Andaman Limited for one well. It will be then subcontracted to Repsol Andaman for a second well.

Aquadrill wins contract worth up to $79m for Capella drillship in Indonesia

Aquadrill wins contract worth up to $79m for Capella drillship in Indonesia. Photo courtesy of Aquadrill LLC.

The value of the contract for its firm portion is anticipated to be about $42 million. The drilling project will begin in Q1 2022 after the completion of Capella’s current contract, its transition to the Vantage Holdings subsidiary who will be the new manager, and its relocation from Malaysia to Indonesia and the preparation of the contract.

The contract is expected to last through mid-Q3 2022.

In case of the options granted and the scope of work being similar to that of the firm wells, the drilling rig will be scheduled to be available in late Q4 2022 or early Q1 2023.

The additional contract value is estimated to be around $37 million.

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