The semi-submersible tender-assist drilling rig GHTH, owned by SED Energy Holdings’ subsidiary Energy Drilling, has started operations with Thailand’s PTT Exploration and Production (PTTEP).
The rig started operating after completing preparatory work in Singapore, under a previously announced 21-month contract with PTTEP.
Built in 2021, GHTH is a self-erecting, semi-tender assist, drilling rig combining a high specification drilling equipment set (DES) with an upsized, deep-draft four column, semi-submersible vessel.
The DES is handled in eight lifts to reduce rig move times and the high capacity semi-tender rig effectively supports batch drilling and completions with offline casing, tubing, and drillpipe stand building.
SED Energy Holdings noted the start of operations provides full utilization across its asset portfolio.
“We are delighted to see GHTH in operation and supporting our client’s drilling program. This achievement underscores the hard work and professionalism of our crews and shore-based teams, who delivered on a complex setup with precision and safety. We look forward to consistently delivering high-quality and safe performance throughout the contract period,” said Marcus Chew, CEO of Energy Drilling.
“The start of this contract marks an important milestone for Energy Holdings, with all assets across our portfolio now on contract and generating revenue, providing full visibility on cash flow for the quarters ahead. With no major capital expenditure scheduled near term, we are well positioned to sustain strong cash conversion and uphold attractive shareholder returns,” added Kurt M. Waldeland, CEO of Energy Holdings.
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