A new jack-up rig is officially coming to the Cook Inlet.
Buccaneer Energy and the Alaska Industrial Development and Export Authority finalized their partnership Monday to bring Endeavour — Spirit of Independence to the inlet.
The rig arrived in Singapore over the weekend, according to AIDEA. There, it will be upgraded and modified before coming to the inlet in spring to start drilling in May 2012. The planned work includes bringing it back into operation, improving the crew quarters, in addition to making it appropriate for Alaska conditions, according to Buccaneer.
The first drill site for the rig will be in the Southern Cross project, which Buccaneer owns.
According to Buccaneer’s statement, it will use the rig exclusively until 2014 and drill a minimum of four wells in that time period.
The rig was constructed in 1982, and upgraded in 2004.