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Seadrill to expand fleet with two semisubmersible ultra-deepwater rigs

Posted on 03 January 2011

Seadrill will acquire two ultra-deepwater semisubmersible drilling rigs, Seadragon I and Seadragon II, currently under construction at the Jurong Shipyard in Singapore. The total project price for the two rigs is estimated to be about $1.2 billion (including project management for the remaining construction period, drilling and handling tools, spares, operations preparations and capitalized interest). Deliveries of the two rigs are expected in the first quarter and fourth quarter 2011, respectively.

The first rig to be completed, Seadragon I, has a five-year contract in place. The second unit, Seadragon II, has currently no employment in place.

The high-specification, new generation rigs are based on the Moss Maritime CS50 Mk II design, which provides broad-spectrum operational capabilities, larger operating area and high load carrying capacity. The dynamically-positioned (DP-3 Class certification) rigs have a water depth capability up to 10,000 ft and total vertical drilling depth capacity up to 35,000 ft. The rigs each have a single derrick with dual pipe handling and offline stand building capabilities for increased efficiency. The subsea well control system includes a six-ram 15-k psi BOP stack with two 10-k psi annulars. Each rig’s variable deck-load specification is 6,200 metric tons and can accommodate 192 people.

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