SED Energy Holdings Plc: EDrill-2 commences operations under multi-year contract with PTTEP
Cyprus, Oct. 21 -- SED Energy Holdings Plc ("Energy Holdings") is pleased to announce that the tender-assist drilling rig EDrill-2, owned by its wholly owned subsidiary Energy Drilling, has successfully commenced operations under its previously announced five-year contract with PTT Exploration and Production Public Company Limited ("PTTEP").EDrill-2 mobilized to the Gulf of Thailand, where it began operations following the timely and on-budget completion of preparatory work in Singapore. The contract has a firm duration of five years with an additional three-year optional period. It includes a rate adjustment clause based on a market index, applicable during the final two years of the firm period and throughout the optional period. The tota...
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