About Jindal drilling rig in brazil
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6 FAQs about [Jindal drilling rig in brazil]
How many jackup rigs does Jindal drill?
JDIL operates 5 jackup rigs which are currently with ONGC. A jackup rig is a specific type of an oil rig which drills oil from the earth’s surface. These rigs can be located either on land (onshore) or water (offshore). Jindal Drilling has a fleet of jack up rigs dedicated to offshore drilling which extracts oil from shallow water ocean beds.
Who is Jindal drilling & Industries Ltd?
Jindal Drilling & Industries Ltd (JDIL) is a service provider in the upstream segment of the offshore oil & gas industry. The company provides rigs on charter hire basis to ONGC (which is its sole client as of date). The Co. is part of the DP Jindal group which also operates Maharashtra Seamless Ltd.
Who owns Jindal pioneer rig?
Purchase optionality in Jindal Pioneer: Jindal Pioneer is owned by JDIL’s JV entity Discovery Drilling where Jindal owns a 49% share of the JV. The rig is currently on rent with Saipem and is deployed in Mexican waters at a bareboat charter of $35k per day which will increase to $40k by Jan 2025.
Is jdil a good rig?
JDIL has achieved nearly a 100% efficiency standard across all its rigs. Paying the highest attention to health and safety regulations of all its workers, JDIL boasts of significantly higher commercial speed than its competitors and other operator owned rigs.
Which offshore rigs are cold stacked?
The names included some of the largest offshore drilling companies in the world such as Valaris, Seadrill, Noble Corporation, Diamond Drilling, Pacific Drilling etc. Referring to asset retirements, this period saw many offshore rigs being cold stacked (complete deactivation of rigs) to save running costs.
Does jdil have to pay $75 million to buy rig?
JDIL is required to pay $75 million to purchase the rig, however the company from which it is buying has taken ~$30 million of loan from JDIL. As per management, as part of the agreement the debt will be extinguished and JDIL will be required to pay a net proceed of $45 million.