According to a major Canadian broadcaster, Parker Drilling was awarded a contract, good for seven years beginning July 1, by Hibernia Management and Development Company (HMDC) for their services on the Hibernia platform in Canada. After many years of service, they are acquiring Paragon Offshore’s contract.
The North Atlantic Ocean harbors the Hibernia platform in 80m of water, and sits southeast of St. John’s, Newfoundland, Canada. After branching out from Noble Corp. in 2014, Paragon acquired a labor contract that provides needed personnel to manage and perform operations on a platform owned by the operator.
The Hibernia began productions in November of 1997 and sits 224 meters high.
Current Shareholders include: ExxonMobil Canada (33.125%), Chevron Canada Resources (26.875%), Suncor (20%), Canada Hibernia Holding Corporation (8.5%), Murphy Oil (6.5%) and Statoil Canada Ltd. (5%).
Article written by HEI contributor Marcela Abarca.