Seadrill subsidiary North Atlantic Drilling has received a letter of intent from ExxonMobil for the hire of its harsh environment semisubmersible drilling rig West Alpha for a further two years. The contract is expected to yield revenues of $410million. The package is due to kick-in during Q3 of 2014, in direct continuation of the next assignment for West Alpha on the Balder field in the Norwegian North Sea.
This means that West Alpha will be employed through to Q3 2016. ExxonMobil has an option to extend the contract a further year on the same terms.