Momentum, along with consortium partners Yantai Raffles Offshore China and TSC Offshore China, has been awarded a contract for the lease and management of one new build jackup rig by Dragon Oil.
Momentum will be the main drilling contractor, responsible for the daily operation, management, logistics and maintenance of the rig and base station. TSC is to provide all the drilling and related equipment, while Yantai will carry out the rig construction.
“We are extremely pleased to be awarded this opportunity and look forward to displaying our premier abilities to work and operate in the remote areas of the Caspian,” said Momentum managing director James Larsen.
The unit is a Friede & Goldman designed Super M2 jackup, which can operate in water depths of up to 300ft and a drilling depth of 30,000ft. It is due to be delivered and mobilised to location in the fourth quarter of 2011.
