By OGJ editors
HOUUSTON, May 15 -- A BP PLC subsidiary signed a letter of intent with a Parker Drilling Co. subsidiary for a drilling contract in Alaska requiring two newbuild land rigs.
A 5-year drilling contract, with a 5-year option, is expected to be executed by May 30, Parker Drilling said.
Operations are anticipated to commence during the second half of 2010.
The arctic-class land rigs will feature:
-- Safety-engineered state-of-the-art equipment to reduce vibration, noise, and personnel hazards.
-- Technology to decrease well times resulting in increased number of wells drilled each year.
-- Onboard command center centralizing decision-making processes.
-- Fully enclosed rig modules for operation in arctic conditions down to –50° F.