AIDEA invests in rig for cook inlet.

AuthorPounds, Nancy
PositionINSIDE ALASKA BUSINESS

The Alaska Industrial Development and Export Authority completed a deal with Buccaneer Energy Ltd. and Ezion Holdings Ltd. to buy, upgrade and mobilize a jack-up drilling rig for oil and gas exploration in Cook Inlet. AIDEA plans to invest nearly $24 million in the rig. The deal includes a joint ownership agreement. The rig was renamed Endeavor--Spirit of Independence and was dispatched to Keppel FELS Shipyard in Singapore for renovations required for its Alaska work. The rig is due to arrive in Alaska in April and begin drilling...

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