Total has exercised a 1-year option on an existing firm contract with Pacific Drilling for its Pacific Scirocco drillship to January 2015.
The contract provides for a further option, to be exercised at the client’s discretion by 7 April, 2014, which could result in two additional years of contract term at a higher dayrate. The additional 1-year term increases the drillship’s backlog by approximately US $180m, bringing the company’s total contract backlog as of 9 April, 2013, to approximately $3.4 Bn.
The additional extension for two years would add a further $364m backlog if exercised.
The Pacific Scirocco is capable of operating in water depths of up to 3,658 m (12,000 ft) and drilling wells of up to 12,192 m (40,000 ft) in depth.
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