Ultra-deepwater Drillship Order
Seadrill has exercised an option to build a new ultra-deepwater dual derrick drillship at the Samsung yard in South Korea. Total project price is estimated at USD 600 million (includes project management, drilling and handling tools, spares, capitalised interest and operations preparations). The delivery is scheduled for the third quarter 2013. The new unit is similar to the two drillships Seadrill ordered from Samsung in November 2010.
The ultra-deepwater drillship has enhanced water depth capacity, technical capabilities as well as increased accommodation capacity compared to previous generation drillships. The dynamic positioning drillship, will be capable of operations in water depths up to 12,000 feet, and will have a hook load capability of 1,250 t. This rig is also outfitted with seven ram configuration of the BOP (Blow Out Preventer) stack, especially targeting operations in challenging areas such as the Gulf of Mexico, Brazil and West Africa. Furthermore, the drillship will be equipped with a 165 t capacity heave compensated crane enhancing the unit’s operational flexibility and facilitating lifts on the seabed in water depths up to 3,000 m.
Seadrill has simultaneously secured an extension of the maturity date for a further option agreement to build its seventh drillship to be delivered from Samsung since 2008. Seadrill has currently no specific plan to exercise this option, but might consider it if the strong underlying trend currently seen in the deep water market continues.
Alf C Thorkildsen, chief executive officer of Seadrill Management AS, comments: “The decision to add another ultra-deepwater newbuild to our modern fleet is based on the recent improvement in market outlook for ultra-deepwater units, with significantly more tender activities. The new drillship has an attractive delivery window, a favorable construction price and payment schedule and an equipment specification list that will meet our customers’ future needs. We have had excellent experience with the Samsung yard and this design and are confident that the unit will be delivered on time and budget once again.”