Ocean Rig, SHI delay drillship delivery

Ocean Rig UDW Inc. and Samsung Heavy Industries have agreed to postpone the delivery of the newbuild drillship Ocean Rig Santorini to September 2019.

Offshore staff

GRAND CAYMAN, Cayman IslandsOcean Rig UDW Inc. and Samsung Heavy Industries have agreed to postpone the delivery of the newbuild drillship Ocean Rig Santorini to September 2019.

Under the agreement reached with SHI the expected delivery date will be Sept. 30, 2019, but may be brought forward at the option of thedrilling rig contractor. The remaining yard installments are expected to total $372 million of which $360 million will be financed by non-recourse seller’s credit that matures in June 2023.

The seventh-generation, DP-3 drillship is designed to drill in water depths up to 12,000 ft (3,658 m).

04/23/2018

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