Seadrill agrees on terms for high-spec jackup

Seadrill is set to add a new high-spec jackup to its fleet.

Offshore staff

HAMILTON, BermudaSeadrill is set to add a new high-spec jackup to its fleet.

It has agreed to acquire the company that owns the yard construction contract of theProspector 3 from Prospector Offshore for $235 million. In addition, Seadrill will provide drilling and handling tools, spares and operations preparations, pushing the total cost for the rig to around $250 million.

Prospector 3 is due to be delivered from Dalian Shipbuilding Industry Offshore in China during 1Q 2014. It is based on the F&G JU2000E design, with water depth capacity of 400 ft (122 m) and a drilling depth of 35,000 ft (10,668 m).

The agreement remains subject to approval by DSIC Offshore.

Seadrill says the lack ofpremium jackup newbuild programs in recent years means that demand now exceeds supply. The tight market is leading customers to contract these rigs for much longer terms than would previously have been the case.

11/15/2013

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