GlobalSantaFe orders ultra deepwater drillship

GlobalSantaFe Corp. has executed an agreement with Hyundai Heavy Industries, Ltd. to build a new ultra deepwater drillship for delivery in Sept. 2010.

Offshore staff

HOUSTON -- GlobalSantaFe Corp. has executed an agreement with Hyundai Heavy Industries, Ltd. to build a new ultra deepwater drillship for delivery in Sept. 2010. Shipyard construction costs are expected to total $740 million.

The drillship will be constructed in Ulsan, Korea, under a turnkey agreement that allows HHI to contract directly with equipment suppliers so the drillship can be delivered to GlobalSantaFe for a fixed price.

The new vessel is an enhanced version of GlobalSantaFe's,C.R. Luigs and Jack Ryan drillships, which entered service in 2000. Like those rigs, it will be able to drill in 10,000 ft (3,048 m) water depth and is upgradeable to 12,000 ft (3,658 m). The new rig will feature advanced dynamic positioning capabilities, triple activity load paths, a derrick rated for 4 million lb (1.8 million kg), dual liquid-storage systems, larger quarters and an efficient deck design that provides more space than previous-generation drillships.

"This next-generation drillship resulted from listening to our customers, assessing the growing need for deepwater capacity, and combining the best features of our drillships and semisubmersibles in a single unit capable of meeting our customers' full range of exploration and development drilling needs," says Jon Marshall, GlobalSantaFe president and CEO. "We are especially pleased that this drillship will be constructed under a turnkey contract by HHI, which has earned a reputation for excellent engineering and on-time delivery."

9/11/2007

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