Rig: West Mira

Name West Mira
Owner Northern Drilling
Manager Northern Drilling
Rig Type Semisub
Sub Type Ultradeep Water
Jackup Type --
Max Water Depth (ft) 10000
Max Drill Depth (ft) 40000
Dimensions (ft)
Leg Length (ft) --
Competitive Yes

Current Location

Country Norway
Region NWECS

Drilling Equipment

Drawworks Type AKMH Wirth
Drawworks HP 6000
Mud Pumps Type --
Top Drive National Oilwell Varco
Hookload Capacity (lbs) --

Rig Construction Details

Rig Design Moss Maritime
Rig Model CS-60Mk
Year Built 2018
Country of Build South Korea
Yard Name Mokpo Shipyard
Group Yard Name Hyundai Heavy Industries (HHI)

Rig Contract Details

Operating Status Operational
Operator Husky

Rig Images

News

13 Mar 2017

Seadrill Limited Announces Settlement of West Mira Arbitration

Seadrill Limited ("Seadrill" or "the Company") announces today that it has reached a settlement agreement with Hyundai Samho Heavy Industries Co Ltd. ("HSHI") in relation to the West Mira ("the Unit") arbitration. Seadrill will receive a cash payment of $170 million in March 2017 as full settlement of the dispute. Arbitration proceedings began in October 2015 following the cancellation of the construction contract for the West Mira and were expected to conclude during the first half of 2018. This settlement agreement brings an early conclusion to the arbitration process. The Company will take a non-cash impairment of approximately $44 million to reflect the difference between the carrying value of the West Mira receivable and the cash payment to be received. As part of this settlement, Seatankers, a related party, has purchased the West Mira from HSHI. Seatankers is an asset holding company and is not expected to engage in offshore drilling activities in competition with Seadrill. The Company expects to execute an agreement with Seatankers for the commercial and technical management of the West Mira as well as a right of first refusal for purchase of the Unit.

22 Sep 2015

Contract associated with cancelled 'West Mira' semisub also now cancelled

Seadrill Limited ("Seadrill"), has been notified by Husky Oil Operations Limited ("Husky") of the cancellation of the drilling contract for the West Mira ("The Unit"). In the fourth quarter of 2012 Seadrill was awarded a five-year contract for the West Mira with Husky for operations in Canada and Greenland. The total estimated base revenue potential was approximately USD1 billion. As stated in Seadrill’s second quarter earnings report, due to the late delivery of the Unit, Seadrill tentatively agreed with Husky to reduce the dayrate on the West Mira. The construction contract was subsequently cancelled by Seadrill due to the Shipyard's inability to deliver the Unit within the timeframe required under the contract. Seadrill remains in discussions with Husky to find an alternative solution to meet its drilling requirements.

15 Sep 2015

Seadrill terminates under construction 'West Mira' semisub

Seadrill Limited ("Seadrill" ), has notified Hyundai Heavy Industries Co Ltd. ("HHI") that it has exercised its right to cancel the contract for the construction of the West Mira, a sixth generation ultra-deepwater harsh environment semisubmersible drilling unit ("West Mira"). The West Mira was ordered during the second quarter of 2012 and the delivery date stated in the construction contract was by December 31st, 2014. Due to HHI’s inability to deliver the West Mira within the timeframe required under the contract, Seadrill has exercised its cancellation rights. Under the contract terms, Seadrill has the ability to recoup the USD168 million in pre-delivery instalments to HHI, plus accrued interest. In the fourth quarter of 2012 Seadrill was awarded a five year contract for the West Mira with Husky Oil Operations Limited ("Husky") for operations in Canada and Greenland. As stated in Seadrill’s second quarter earnings report, due to the late delivery of the West Mira, Seadrill had tentatively agreed with Husky to reduce the dayrate of the drilling contract. Seadrill remains in discussions with Husky to find an alternative solution to meet its drilling requirements.

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