More news on Smedvig semi-tenderNews // October 19, 2001
The SSETR was named West Alliance by Mrs Patricia Chan, wife of Mr Chan Heng Wah, Drilling Manager of Esso Production Malaysia Inc, at a naming ceremony held in Keppel Shipyard on 29 September 2001.
West Alliance has a one plus one optional year drilling contract with Esso Malaysia, which is scheduled to commence in early November this year.
Mr Charles Foo, Managing Director of KHZ, said: "We are proud to deliver West Alliance on time and within budget, to Smedvig. This is the second offshore vessel Keppel Shipyard has built for Smedvig, the first being West Menang, which was delivered in 1999.
The completion of West Alliance has again proven Keppel's versatility and expertise in the construction of sophisticated vessels."
Mr Staale Roed, Managing Director of Smedvig Asia said, "The delivery of West Alliance has strengthened our partnership with Keppel and I am confident that as with West Menang, West Alliance would be an asset in our tender assisted drilling business in South East Asia."
In August, Smedvig announced its intention to purchase Keppel's interest of about US$61.5 million in West Alliance. The purchase is due to be completed after the commencement of operations under the Esso Malaysia contract. This follows the co-operation agreement the two parties signed in June 2000, in which Keppel owns the semi-submersible hull, while Smedvig owns the derrick equipment set.
Following the exercise of its option, Smedvig will own 100 per cent of West Alliance, and bring the total capital expenditure of the rig to about US$85 million.
KHZ says the West Alliance represents the newest generation of SSETRs, incorporating the latest technology and equipment. It is designed for deepwater drilling operations in combination with floating wellhead platforms in benign waters.
Although similar in design and specifications to West Menang, West Alliance has increased deckload capacity of up to 3,300dwt and larger accommodation facilities to accommodate 130 people.