KCA Deutag, a global offshore oil and gas drilling contractor, has sold on the Ben Loyal offshore jackup drilling rig.
The company announced the news Monday (21 Dec), stating that the drilling rig had been sold to, Advanced Energy Systems, an Egyptian based offshore drilling firm, for an undisclosed sum.
Commenting on the rig sale, KCA Deutag CEO, Norrie McKay, said: “The sale of the Ben Loyal is another important step for KCA Deutag as we continue to focus our growth strategy on our core businesses of premium rig services, specialist engineering and design, and land rig manufacturing.”
Ben Loyal Rig
The Ben Loyal offshore drilling rig was built, in 1981, by Gotaverken Arendal at their Gothenberg shipyard, in Sweden. Having been acquired by KCA Deutag back in 2005, it underwent major upgrades in Q3 of 2006.
The Friede & Goldman, Independent Leg Cantilever designed rig, has a current specification enabling it to work in water depths of 300 feet (91m) and drill to a depth of 25,000 feet (7620 m).
KCA stated that the Ben Loyal had been a strong performer in its current drilling fleet, having spent much of its time under contract in the Gulf of Mexico. The rigs last contract endued back in October of this year.