FAIRBANKS (AP) Doyon Drilling Inc. has entered into a five-year contract with BP Exploration (Alaska) Inc. for work at Milne Point and other BP fields such as Prudhoe Bay.
The deal is a rare move for an existing oil rig, according to Ron Wilson, Doyon Drilling general manager. He said contracts of that length are usually reserved for new oil rigs.
Doyon, owned by Fairbanks-based Native corporation Doyon LTD, held a previous contract with BP for use of the rig.
B-P and Doyon have not disclosed the size of the contract.
The drilling rig was built in 1987 and is one of five owned by Doyon Drilling. Three are in operation, including the Milne Point rig and two under contract with ConocoPhillips.
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