Burullus Gas extends rig contract

Burullus Gas Co. has extended its chartering of third-generation semisubmersible rig Scarabeo 6 from Saipem SPA under a $400 million contract.

Uchenna Izundu
OGJ International Editor

LONDON, Apr. 3 -- Burullus Gas Co. has extended its chartering of third-generation semisubmersible rig Scarabeo 6 from Saipem SPA under a $400 million contract.

The new contract will last until fourth quarter 2014. The rig will remain in Egyptian waters.

Scarabeo 6's operating capacity is to be upgraded to 1,100 m from 780 m of water in 6 months in late 2011 or early 2012.

Burullus Gas is a joint venture of British Gas International Ltd., 25%, Petronas Carigali Sdn. Bhd., 25%, and Egyptian Natural Gas Holding Co., 50%.

Contact Uchenna Izundu at uchennai@pennwell.com.

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