Seadrill to build new tender rig

Seadrill, a Bermuda-based company with an offshore drilling fleet, has entered into an agreement with Malaysia Marine & Heavy Engineering for the purpose of building a new self erecting tender rig, T-11. The new barge unit is scheduled for delivery in the fourth quarter 2008, and capital expenditure is estimated to approximately $100 million, including the derrick equipment set. Seadrill’s ownership share is 100%.

The tender rig will be based on a similar design and same specifications as Seadrill’s T-10, with enhanced drilling capabilities allowing for parallel activities and high drilling efficiency. The new unit will be particularly well suited for production drilling in selected shallow and deepwater areas.