Seadrill orders ultra-deepwater drillship for delivery in 2014

Posted on 24 September 2012

Seadrill has ordered an ultra-deepwater drillship to be built at the Samsung yard in South Korea. The project value is estimated to be around US $600 million, including project management, drilling and handling tools, spares, capitalized interest and operations preparations. Delivery is scheduled for Q4 2014.

The drillship will be of the same design as the existing six drillships under construction at Samsung and will have a hook-load capability of 1,250 tons and a water depth capacity of up to 12,000 ft targeting operations in areas such as the Gulf of Mexico, Brazil, and West and East Africa. The units will be outfitted with a seven-ram blowout preventer (BOP) stack and with storing and handling capacity for a second BOP.

Seadrill’s construction program now totals 19 units, including seven drillships, two harsh-environment semisubmersibles, five tender rigs and five jackups. Seadrill also has fixed-price options for three ultra-deepwater/harsh-environment units. Seadrill has agreed on a fixed-price option to build an additional drillship at the Samsung yard and believes it is likely that the option will be exercised with delivery in the Q1 2015.

“We have a unique environment where both daily rates and contract duration are increasing to new highs, while yard prices remain low due to the overcapacity in the shipyard industry,” John Fredriksen, chairman of Seadrill said.
“The deepwater drilling industry is transforming from an exploration to a development industry. Such a transformation will trigger a significant increase in the need for the drilling of production wells in order to connect the fields that have been successfully explored in the recent years.

“Seadrill is best positioned within the drilling industry to meet this tightness. We have in total nine ultra-deep/harsh-environment units for delivery in 2013 to 2015, plus options for an additional three. Two of these units have already been employed on long-term contracts. We are currently in specific discussions regarding attractive long-term employment opportunities for a majority of the remaining firm units. Clarification around these fixtures should be expected in the months to come.”

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 16 October 2014

    BG Group appoints Helge Lund as CEO; Statoil appoints Eldar Sætre as acting President and CEO

    "It has been a privilege to lead Statoil during 10 very exciting years,” Mr Lund said. “Together we have created values for Statoil’s shareholders and the society…

  • 15 October 2014

    Eni signs two PSCs for offshore exploration in Vietnam

    Eni has signed two production-sharing contracts (PSCs) with Petrovietnam for the exploration of blocks 116 and 124, located off the coast of Vietnam…

  • 13 October 2014

    OneSubsea awarded contract for PEMEX Lakach deepwater development

    OneSubsea, a Cameron and Schlumberger company, has been awarded a subsea production systems contract totaling more than $270 million for the Lakach deepwater project…

  • 08 October 2014

    Shell starts oil production from Gumusut-Kakap deepwater platform in Malaysia

    Shell has started oil production from the Gumusut-Kakap floating platform off the coast of Malaysia, the latest in a series of Shell deepwater projects...

  • 08 October 2014

    5 principles to follow for reducing risk of anti-corruption violations

    In 2007, the US Department of Justice initiated an industry sweep targeting oilfield service companies, instigated by the government’s perceptions of the industry’s...

  • Read more news