Newbuild ultra-deepwater semisubmersible rig heading for the US GoM

BHP Billiton Petroleum (Americas) Inc. awarded GlobalSantaFe a two-year contract for its GSF Development Driller I.

Oct 4th, 2004

BHP Billiton Petroleum (Americas) Inc. awarded GlobalSantaFe a two-year contract for its new build ultra-deepwater semisubmersible drilling rig,GSF Development Driller I, for work in the US Gulf of Mexico. The multi-well exploration and development program is expected to start in April 2005 and has a total contract value of approximately $157 million.

"We have enjoyed a successful relationship with BHP Billiton over the past several years and look forward to expanding our support in the deepwater Gulf of Mexico for this important customer," GlobalSantaFe President and CEO Jon Marshall says.

GSF designed theGSF Development Driller I to meet the requirements of drilling in the challenging deepwater arena and it is optimized for development drilling and subsea completion projects. Its efficient design includes 18,000 sq ft of useable deck space and more than 7,000 metric tons of variable deck load. The rig's dynamic positioning and self-contained mooring systems can be supplemented with up to eight additional mooring lines for increased flexibility in varying conditions.

10-04-04

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