Home / News / Pride to build fourth ultra-deepwater drillship for late 2011 delivery

 Pride International announced it has placed an order for the construction of a fourth advanced-capability, ultra-deepwater drillship. The latest drillship, like the company’s three previously announced projects, will be constructed at the Samsung Heavy Industries (SHI) shipyard in Geoje, South Korea, on a fixed-price basis and is expected to be delivered in the fourth quarter of 2011, following construction, commissioning and system-integrated testing.

The yet-to-be-named new drillship is based on an SHI proprietary hull design measuring 750 ft long and 140 ft wide and offering a pay load in excess of 20,000 metric tons. The unit is designed for drilling in water depths of up to 12,000 ft but initially equipped for 10,000 ft, with a total vertical drilling depth of 40,000 ft. It will have off-line tubular stand building capabilities and feature dynamic positioning in compliance with DPS-3 certification.

Pride to build fourth ultra-deepwater drillship for late 2011 delivery

The rig will also have expanded drilling fluids capacity, a 1,000-ton capacity hoisting system and living quarters for up to 200 personnel. The expected construction cost of the rig, including commissioning and system integrated-testing and excluding capitalized interest, is approximately $745 million.

Louis A Raspino, Pride president and CEO, stated, “We remain intensely focused on expanding our presence in the ultra-deepwater drilling sector, while increasing our already significant competencies in deepwater operations, engineering and construction and project management. This attractive shipyard delivery provides a unique opportunity to address a growing base of customers with ultra-deepwater rig needs in the early part of the next decade, while we continue to execute our strategic objective of expanding our premium asset base…. We believe demand for ultra-deepwater rig capacity extends well into the next decade, providing excellent prospects for contracting this latest unit.”

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