Rig: Sevan Driller

Name Sevan Driller
Owner Sevan Drilling
Manager Seadrill Ltd
Rig Type Semisub
Sub Type Ultradeep Water
Jackup Type --
Max Water Depth (ft) 10000
Max Drill Depth (ft) 40000
Dimensions (ft) 282.15 x 246 x 80.38
Leg Length (ft) --
Competitive Yes

Current Location

Country Singapore
Region South East Asia

Drilling Equipment

Drawworks Type AKMH Wirth GH 4500 EG
Drawworks HP 4500
Mud Pumps Type AKMH Wirth TPK 2200
Top Drive Aker Maritime Hydraulics DDM 1000-AC-2M
Hookload Capacity (lbs) 2000000

Rig Construction Details

Rig Design Sevan
Rig Model 650
Year Built 2009
Country of Build China (PRC)
Yard Name COSCO (Nantong) Shipyard
Group Yard Name COSCO Shipyard Group Co., Ltd. (COSCO)

Rig Contract Details

Operating Status Ready Stacked
Operator --

News

30 Mar 2016

Sevan Drilling Ltd: Sevan Drilling Ltd amends drilling contracts and secures new employment for Sevan Driller

Reference is made to the Fourth Quarter Earnings Release on February 25, 2016, Sevan Drilling Limited ("Sevan Drilling" or the "Company") amended contracts for the Sevan Driller and Sevan Brasil with Petroleo Brasileiro SA ("Petrobras") and secured short-term employment for Sevan Driller in Brazil with Shell do Brasil ("Shell") commencing in the second quarter 2016. In December 2015, the Sevan Driller contract was suspended by Petrobras as part of the ongoing commercial negotiations for both of Sevan Drilling's units employed with Petrobras. Today, Petrobras and Sevan Drilling executed an early termination of the Sevan Driller contract and reduction of the contract dayrate on the Sevan Brasil. The Company determined on balance that this was the preferred alternative to potentially having both contracts terminated and exposing the Company to a protracted legal challenge with an uncertain outcome. As a result, the Company was able to preserve $220 million of contracted revenue backlog for the Sevan Brasil contract and to allow the Sevan Driller to obtain alternative employment. The Sevan Brasil contract dayrate has been reduced to US$250,000 per day effective 26 February 2016 through the remaining term of the contract, ending July 2018 and a portion of the dayrate continues to be denominated in Brasilian Reals. The Sevan Driller contract was mutually agreed to be cancelled effective from 1 December 2015. Subsequent to the effective cancellation of the contact for the Sevan Driller, the unit has been awarded a well intervention contract by Shell in Brazil for 60 days with two 30 day options commencing in the second quarter of 2016, adding approximately US$11 million in revenue backlog. Daily operating cost is expected to be significantly lower as the rig will perform non-drilling activities for Shell. As of 26 February 2016, the Company's total contracted revenue backlog is now estimated at $509 million, including the extension of the Sevan Louisiana contract amended in November 2014.

27 Jun 2013

Seadrill increases ownership in Sevan Drilling

Seadrill has purchased an additional 116,934,875 shares in Sevan Drilling to increase the company’s holding in its fellow offshore drilling operator to over 50%. The acquisition of the additional almost 117 million shares cost Seadrill around US$76 million and the company set out its intention to submit a mandatory offer for the remainder of Sevan Drilling shares in the market. A successful takeover of Sevan would increase Seadrill’s semi-submersible fleet by four units and also give the operator an increased presence in the Brazilian offshore market where the ‘Sevan Driller’ and ‘Sevan Brasil’ units are currently operating.

15 Jun 2010

'Sevan Driller' heads for drilling location

'Sevan Driller' has left Macae, heading for the drilling location. The advanced deepwater drilling unit is the world's first cylindrical rig and will be operating in the pre-salt area under a six year drilling contract with Petrobras.

11 Jun 2010

'Sevan Driller' Accepted by Petrobras

Sevan has been informed that the 'Sevan Driller' has been accepted by Petrobras. The rig will be operating in the pre-salt area offshore Brazil under a fixed six year drilling contract.

21 May 2010

'Sevan Driller' departs from Rio shipyard

The 'Sevan Driller' departed Rio yesterday and is currently en route to Macae where formal acceptance will take place. Total transit time to Macae is approximately 24 hours. Following formal acceptance, the unit will relocate to its first drilling location in the Campos basin.

29 Mar 2010

'Sevan Driller' arrives in Brazil

‘Sevan Driller’ arrived in Rio de Janeiro, Brazil on Saturday March 27th, 2010. The UDW drilling unit will undergo custom clearance and acceptance testing by Petrobras prior to commencement of operation under its six year contract.

23 Nov 2009

'Sevan Driller' completes sea trials and begins mobilisation to Brazil

The ‘Sevan Driller’ completed the sea trials off the coast of China on November 23rd, 2009, and has started its voyage to Brazil for commencement of a six-year contract with Petrobras S.A. The rig has undertaken an extensive commissioning and sea trial program, including speed trials confirming the design speed above 9 knots. ‘Sevan Driller’ was constructed in less than 30 months at COSCOs Nantong and Qidong shipyards in China. The self-propelled rig has an expected transit time to Brasil of 75-80 days including bunkering in Singapore and a crew change in Cape Town, South Africa. Upon arrival in Rio de Janeiro, Brazil, the rig will undergo importation procedures and acceptance testing by Petrobras. ‘Sevan Driller’ will be operating in the pre-salt area with its first location in the Campos basin in a water depth of 1,800 m. The ultra-deepwater drilling rig will be capable of drilling in water depths down to 3,000 m and has a variable deck load capacity of more than 15,000 tons. The ‘Sevan Driller’ is the world’s first cylindrical drilling unit and is based on the same design principles as Sevan’s three FPSOs currently in operation in Brazil and the North Sea.

19 Sep 2006

Petrobras awards drilling contract to Sevan

Petrobras America Inc. has awarded Sevan a drilling contract for the ‘Sevan Driller’ for the US Gulf of Mexico. The ‘Sevan Driller’ is currently under construction and the detailed engineering has been underway since March 2006. The rig is designed to include the most advanced drilling capabilities in the industry, based on Sevan’s own patented technology. The ‘Sevan Driller’ will have a capacity of drilling of wells up to 40,000 feet in water depths of up to 12,500 feet, a variable deckload of more than 15,000 metric tons and high storage capacity of bulk materials. It will be equipped with an internal storage capacity of up to 150,000 barrels of oil. The drilling contract has a duration of six years and is expected to commence in the first quarter of 2009. Revenues which could be generated over the six year period are approximately USD880 million, including a bonus arrangement and mobilization fee. In order to satisfy client specific requirements and to further enhance drilling efficiency and rig uptime for deepwater operations in the US Gulf, additional investments of USD50 m will be made to the unit.

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