Energy Drilling has received a letter of award for its T-16 drilling rig from Carigali-PTTEPI Operating Company (CPOC), covering Phase 7 work in the Malaysia-Thailand Joint Development Area. The firm portion is valued at about USD 87 million, with mobilisation included.
Parent company SED Energy Holdings disclosed the award in its 27 October 2026 announcement. It provides 30 months of firm work and allows extensions totalling up to 15 months. Phase 7 is expected to start early in Q3 2027, and the parent company said the firm commitment would provide employment into 2030.
Before that assignment, T-16 is expected to finish its ongoing Phase 6 campaign during Q1 2027. The current contract has December 2026 as the end of its firm period, with extension options available.
Once Phase 6 ends, the rig will return to Singapore. Staffing and operating expenditure will be reduced during the interval before the next campaign.
Built in 2013, T-16 is a tender-assist unit operated by Singapore-based Energy Drilling, which is wholly owned by SED Energy Holdings. Development work by CPOC in block B-17-01, in the southern Gulf of Thailand, includes new wellhead platforms, subsea pipelines and supporting infrastructure. The operator acts for partners associated with Petronas and PTTEP.
