Atwood cancels option for newbuild semisubmersible

Atwood Oceanics will not be exercising its existing option to have Jurong Shipyard Pte Ltd. construct another deepwater semisubmersible drilling unit.

Offshore staff

HOUSTON -- Atwood Oceanics will not be exercising its existing option to have Jurong Shipyard Pte Ltd. construct another deepwater semisubmersible drilling unit.

The company is currently constructing a Friede & Goldman ExD Millennium 6,000-ft (1,829-m) conventionally moored semisubmersible and a similarly designed 10,000-ft (3,048-m) dynamically positioned semisubmersible at Jurong's shipyard in Singapore.

Construction is on schedule, with the delivery of the conventionally moored unit planned for early 2011 and the delivery of the dynamically positioned unit planned for mid 2012.

10/16/2008

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