Offshore stuff

• Seadrill gets an five year extension for the semi-tender West Alliance. The total value of the contract is 310 million dollars, which would put the day rate between $160 000 and $170 000, approximately 70% higher than West Alliance's current DR of $93 000.

• Three new build jackups entered the market this week, and three exited.

• India's ONGC says : "ONGC is envisaging an investment of over 5 billion USD to start production from deepwater blocks KG-DWN-98/2 and KG-OS-DW-IV by 2013. Non-availability of deepwater and ultra-deepwater rigs in the global market has been a serious impediment in our deepwater campaign".