Seadrill orders new ultra-deepwater drillship

The total project price is estimated at $600 million, including project management, drilling and handling tools, spares, capitalised interest and operations preparations. Delivery is scheduled for the third quarter 2013.

The new unit is similar to the two drillships Seadrill ordered from Samsung in November 2010 with 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 3,600m, and will have a hook load capability of 1,250 tons. This rig is 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 ton capacity heave compensated crane enhancing the unit’s operational flexibility and facilitating lifts on the seabed in water depths up to 3,000m.

Seadrill has simultaneously secured an extension of 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 says it might be considered it if the strong underlying trend currently seen in the deep water market continues.

Alf C Thorkildsen, CEO of Seadrill Management, said: “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.”