HAMILTON, Bermuda – Seadrill Ltd. (XOSL:SDRL) has entered into turnkey contracts with Samsung for the construction of two ultra-deepwater drillships at $600 million each.
Construction of the drillships is scheduled for completion in the second and third quarters 2014. The price includes a turnkey contract with the yard, project management, drilling and handling tools, spares, capitalized interest, and operations preparations.
Seadrill has also a fixed price option to order an additional drillship for delivery in 2014.
The drillships are the same design as the three previous dual-derrick drillships Seadrill ordered from Samsung late 2010 and early 2011, with increased water depth, technical capabilities and accommodation capacities. These dynamic positioning drillships will have a hook load capability of 1,250 tons and a water depth capacity of up to 12,000 ft (3,658 m) targeting operations in areas such as the Gulf of Mexico, Brazil as well as West and East Africa.
In addition, these units will be outfitted with seven ram configuration of the BOP stack and with storing and handling capacity for a second BOP.
In making the decision to order the vessels, Seadrill cited a surge in long-term demand for ultra-deepwater drilling rigs as well as tender rigs driven by high oil prices and deepwater exploration successes.