COSL buys 42-year-old drilling rig Stena Clyde for US$11 million
Chinese offshore drilling company COSL has reportedly bought the 1976-built offshore drilling rig Stena Clyde for US$11 million.
The information has been sourced from Bassoe Offshore’s analytics tool, which shows the deal was signed earlier this month, and it also shows that the rig is expected to continue drilling despite its age, and the recent lack of work.
Apart from Bassoe, VesselsValue (VV) also shows the Chinese drilling company now owns the rig. According to VV, the rig was actually sold on the 19th November.
VesselsValue also shows the sale price was US$11 million, which is higher that VV had valued the rig at the time of the reported sale – around US$9 million. For comparison, the rig’s value ten years ago, per VV, was US$116 million.
Stena Clyde, its spec sheet shows, is a self-propelled, twin pontoon, column stabilised drilling unit, built in the Rauma Repola in Mäntyluoto, Finland in 1976. The rig has since been updated twice.
As previously reported, Stena Drilling said in October it had decided to remove the Stena Clyde semi-submersible drilling rig from active service and retire the rig from its fleet, after a three-year-long spell without work. After having been stacked in Australia for three years, the offshore drilling rig was recently moved to Singapore.
Stena Drilling at the time noted that, while there had been some recent interest in operating the rig in the region, “these opportunities have not materialised to the extent necessary to continue supporting the rig.”
The rig entered the Stena Drilling fleet in 1996, working the North Sea before making its way to Asia and Australia.
The rig was modified in 1985 and 1997 to with an additional six stability columns to provide adequate operating deck load for operations in 1,640 feet water depths.
The Stena Clyde has an SBOP capability for a water depth of 5,000 feet.
Source: Offshore Energy Today