Diamond Offshore Drilling acquires newbuild semisub

Diamond Offshore Drilling has acquired the construction contract to purchase the newbuild 7,500-ft (2286 m) dynamically positioned semisubmersible PetroRig II from PetroRig II Pte Ltd.

Offshore staff

HOUSTON -- Diamond Offshore Drilling has acquired the construction contract to purchase the newbuild 7,500-ft (2286 m) dynamically positioned semisubmersible PetroRig II from PetroRig II Pte Ltd. The rig will be renamed Ocean Valor.

The transaction is expected to be completed this week. The aggregate paid to acquire the construction contract and the remaining payment due to Jurong Shipyard under the construction contract is approximately $490 million, exclusive of initial mobilization costs, final commissioning, drillstring, and necessary spares.

09/30/2009

More in Rigs/Vessels