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

  • 22 April 2014

    Noble names Steven Manz as Senior VP And CFO of Paragon Offshore

    Steven A. Manz will serve as Senior VP and CFO of Noble Corp’s spinoff company Paragon Offshore, a standard specification offshore drilling company, Noble announced today...

  • 17 April 2014

    Shell makes deepwater gas discovery offshore Malaysia

    Shell has made an exploration discovery offshore Malaysia in the Rosmari-1 well located 135 km offshore Malaysia in Block SK318. The well was drilled to a total depth of 2,123...

  • 16 April 2014

    Maersk Drilling takes delivery of ultra-deepwater drillship

    Maersk Drilling has taken the delivery of its second drillship, Maersk Valiant from the Samsung Heavy Industries (SHI) shipyard in Geoje-Si, South-Korea. Maersk Valiant has begun its voyage toward the...

  • 16 April 2014

    Ensco orders new jackups from Lamprell

    Ensco has ordered two high-specification jackups, ENSCO 140 and ENSCO 141, for delivery in mid-2016 from Lamprell’s shipyard in the United Arab Emirates. The rigs will also...

  • 16 April 2014

    MPD/UBD successfully drills sidetrack after 6 failed conventional drilling attempts

    In the Brookeland Field in East Texas, conventional drilling methods failed in six attempts to drill a “straightforward” horizontal wellbore. The original well had surface casing installed...

  • Read more news