Energy Drilling to Manage, Market Seadrill Partners' Tender Rigs

Energy Drilling Management Pte Ltd (EDMPL) has entered into a management agreement with Seadrill Partners to maintain, market, and operate the tender rigs Seadrill-T15, Seadrill-T16 and West Vencedor.

After the transaction, EDMPL will effectively market and eventually operate a fleet of six tender rigs comprising of four barge-type and two semi-submersible type tender rigs, EDMPL said earlier this week.

The three tender rigs are preserved in Singapore, Malaysia, and Indonesia and plans are in place to transition the rigs from Seadrill Management to Energy Drilling Management. 

"The rigs will be actively marketed by EDMPL to Operators in the region and West Africa who are familiar with the deployment of tender rigs for development drilling on fixed platforms in shallow waters and Spars and TLPs in deep-waters," EDMPL said.

“We are delighted that SDLP has chosen to entrust their assets to be managed by EDMPL after an extensive worldwide search amongst drilling contractors. This clearly demonstrates the value proposition offered by Energy Drilling in a competitive market. This transaction will help consolidate the tender rig sector as we enter into a market that is showing early signs of recovery,” said Marcus Chew, CEO of Energy Drilling.

“We are impressed by the knowledge and professionalism shown by the Edrill team throughout the selection process. Their effective cost structure and their unique focus on the tender rigs segment of the drilling market will translate to the best chances of helping these assets to get back to work.”, said John Roche, CEO of Seadrill Partners.

To remind, said on December 1, 202, it had filed for Chapter 11 bankruptcy protection in order to restructure its debt.

"The company intends to use the bankruptcy process to ensure that all customer, vendor and employee obligations are met without interruption and to complete a consensual restructuring of its debt," Seadrill Partners said at the time.