Transocean signs construction contracts for two newbuild ultra-deepwater drillships

A Transocean Ltd. subsidiary has awarded contracts to Sembcorp Marine's subsidiary, Jurong Shipyard in Singapore, for construction of two newbuild dynamically positioned ultra-deepwater drillships.

Feb 27th, 2014

Offshore staff

ZUG, Switzerland – A Transocean Ltd. (NYSE: RIG) (SIX: RIGN) subsidiary has awarded contracts to Sembcorp Marine's subsidiary, Jurong Shipyard in Singapore, for construction of two newbuild dynamically positioned ultra-deepwater drillships.

The two drillships are expected to be delivered from the shipyard in 2Q 2017 and 1Q 2018, respectively. The combined capital cost for the two drillships is estimated at $1.24 billion.

Additionally, Transocean has an option agreement to order up to three additional drillships of the same design and specifications on similar terms.

The drillships will be based on Jurong Shipyard’s proprietary Jurong Espadon III design, which represents the next generation of high-specification drillships, with advanced capabilities for operational efficiency and ultra-deepwater development drilling operations worldwide.

Specifically designed for enhanced drilling operations, the drillships are equipped with state-of-the-art drilling facilities, a large moon pool to cater for a larger riser angle, and bilge boxes designed for superior motion characteristics. The drillships also feature larger deck space, with an enclosed riser bay and round mud pits inside the hull for operational efficiency and safety.

The DP-3 drillships will be capable of operating at 12,000 ft (3,658 m) of water depth and drilling to depths of 40,000 ft (12,192 m), with accommodation facilities for a crew of 220 personnel.

02/27/2014

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