Daewoo awarded ultra-deepwater drillship contract

To be named the Atwood Advantage, the vessel is expected to be delivered by 30 September, 2013 from the South Korean yard at a total cost, including project management, drilling and handling tools and spares, of approximately $600 million. The company also secured priced options to construct one or two additional ultra-deepwater drillships which require commitment within nine months after contract execution. No determination has been made at this time whether any options will be exercised.

The Atwood Advantage will be a DP-3 dynamically-positioned, dual derrick ultra-deepwater drillship rated to operate in water depths up to 12,000 feet and to drill to a depth of 40,000 feet. In addition, the newbuilding will have enhanced technical capabilities including a 7-ram blowout preventer, three 100-tonne knuckle boom cranes, a 165-tonne active heave ‘tree-running’ knuckle boom crane and accommodation for 200 people.

Upon delivery, the Atwood Advantage will become the fifteenth mobile offshore drilling unit owned by the company group.