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Seadrill places new order for two jackups

Posted on 31 July 2013

Seadrill has entered into new contracts for the construction of two high-specification jackup drilling rigs at Dalian Shipbuilding Industry Offshore (DSIC Offshore) in China.  The newbuild rigs are scheduled for delivery during the Q2 and Q3 of 2016, and the total project price per rig is approximately US$230 million including project management, capitalized interest, drilling and handling tools, spares and operation preparations.

The two new units will be based on the F&G JU2000E design with water depth capacity of 400 ft and drilling depth of 30,000 ft. Seadrill now has in total 10 jackups under construction at DSIC Offshore of which two are scheduled for delivery in 2013, five in 2015 and three in 2016.

The company’s construction program now totals 24 units, including 9 drillships, 2 harsh environment semi-submersibles, and 13 high specification jack-ups.

“Seadrill has focused its’ newbuild activity on the high end of all asset classes since the company’s inception in 2005. High specification units have historically commanded the highest dayrates and utilization rates and we fully expect this trend to continue. The market for high specification jackup units is poised for a significant uplift in dayrates and we continue to invest in order to put Seadrill’s shareholders in a prime position to benefit,” Per Wullf, CEO of Seadrill said.

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