Energy Drilling Wins US$87 Million Drilling Contract in Malaysia-Thailand Joint Development Area

en.Wedoany.com Reported - On October 27, offshore drilling service provider Energy Drilling announced that it has received a letter of award from Carigali-PTTEPI Operating Company (CPOC) for an offshore drilling project, under which it will deploy the T-16 tender assist drilling rig to carry out Phase 7 drilling operations in the Malaysia-Thailand Joint Development Area. The contract has a firm term of 30 months, with an estimated value of approximately US$87 million, including mobilization costs, and includes an extension option of up to 15 months. The new phase of operations is scheduled to commence in early the third quarter of 2027.

The T-16 is currently executing the Phase 6 drilling campaign under CPOC's development plan, with its existing contract firm term running through December 2026. Under the latest operating schedule, Phase 6 is expected to conclude in the first quarter of 2027. The rig will then demobilize from the operating area and relocate to Singapore, where it will adopt a reduced manning and operating cost management arrangement before the next phase of work begins.

The T-16 is a barge-type self-elevating tender assist drilling rig specifically designed for development drilling on fixed wellhead platforms. It was built in 2013 by Nantong Shipyard under China COSCO Shipping. The rig utilizes a pre-laid mooring system, is designed for water depths of up to approximately 6,000 ft (about 1,829 m), and has a maximum drilling depth of approximately 20,000 ft (about 6,096 m). It is primarily deployed for multi-well drilling operations on offshore fixed wellhead platforms.

This award corresponds to CPOC's subsequent development drilling plan in the Malaysia-Thailand Joint Development Area. Development activities in this area involve Block B-17-01 in the southern Gulf of Thailand, including wellhead platforms, subsea pipelines, and associated facilities. Energy Drilling will continue to use the existing T-16 rig for the next phase of well drilling, with operations under the firm contract period extending through 2030.