No no, I’m simply offering it a good home. I didn’t agree to any “adoption fees.”
Here is basic specs for Island Navigator:
She was intended to do tophole drilling, work-overs and P&A etc., not competing with full size drillships.
The official statement from Island Offshore:
Sembcorp Marine has offhanded West Rigel to “unknown” buyers:
I wouldn’t be at all surprised if either Jon Fredriksen or Troim is behind the purchase.
Some is seeing a bright future and have put their money where their mouth is:
Borr Drilling is still aggressively in the market for new Jackups:
Are they overly optimistic, or do they know something we don’t know??
Others see a future in the Construction and Marine field as well:
And they are looking at new markets:
Statoil have lost money on their USA operations for years, but have now returned to profitability:
At the same time they have cut cost on the Johan Sverdrup development to where they can make money at an oil price of USD 15/bbl.:
USD 1.2 Mill/hr. is not a bad hourly “wage” either. (that is at today’s oil price)
And the cost of producing oil in Norway is much lower than in the British sector:
The cost in Norway is nearly on par with the production costs in the Middle East, which is a surprise.