Malaysia Gears up for Deepwater Drive


Another shipping magnate will be able to finance his home in Spain soon.

From UpstreamOnline, 2010-07-28:

Malaysia’s state player PETRONAS Carigali will need three drillships between 2010 and 2015 to support the development of deep-water oil and gas fields, the company’s head of deep-water development, Rosli Hamzah said at a conference in Singapore.

Hamzah said two drillships, Transocean’s Deepwater Expedition and Frontier Phoenix are scheduled to arrive in Malaysian waters in September and November, respectively.

AmResearch’s Alex Goh said the average day rates for drillships with rated water depth of over 4000 feet are around $425,000.

This entry was posted on Wednesday, August 11th, 2010 at 6:00 am and is filed under investment, Malaysia. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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