Energy Drilling lines up 30-month job to keep its rig busy through 2030

Energy Drilling, a wholly owned subsidiary of SED Energy Holdings, has locked in a multi-year offshore assignment for its purpose-built barge-type self-erecting tender-assisted drilling rig (SETR) in the Malaysia-Thailand Joint Development Area that will keep the rig occupied well into 2030.

Energy Drilling has received a letter of award from Carigali-PTTEPI Operating Company (CPOC) for a 30-month offshore drilling campaign, with options for up to an additional 15 months, for its 2013-built T-16 tender-assist drilling rig in Malaysia. The firm contract period has an estimated value of approximately $87 million, including mobilization fees.

Kurt M. Waldeland, CEO of Energy Holdings, commented: “This award confirms the strong demand we are seeing across Southeast Asia and demonstrates Energy Drilling's ability to win attractive long-term work with leading customers. By securing firm employment for T-16 into 2030, we add meaningfully to our backlog and strengthen our long-term earnings visibility and distribution capacity.”

The company emphasizes that this award covers Phase 7 of CPOC’s development campaign in the Malaysia-Thailand Joint Development Area. The T-16 rig is currently completing Phase 6 of the same campaign, with a firm term through December 2026 and options for further extensions.

This story was originally published by Offshore Energy. Read the full story at Offshore Energy →