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Seadrill orders third drillship
By Upstream staff
Norway’s Seadrill said it had signed a turnkey contract worth $598 million with South Korea's Samsung Shipyard for a third newbuild ultra deep-water drillship.
The unit is scheduled for delivery in June 2010, Seadrill said.
The drillship is based on a Samsung design and is similar to the two units Seadrill already has under construction at the Samsung Shipyard.
Seadrill said the decision to add another deep-water newbuild to the existing construction programme was based on the continued strength of the offshore drilling market, and the expected return on investment.
The strong financial flexibility generated by the company's contract backlog and the limited availability of newbuild slots at quality yards with delivery in 2010 also contributed to the decision, Seadrill said.
The drillship is the 10th deep-water unit Seadrill has ordered since the Company was formed in May 2005.
Thursday, 12 July, 2007, 07:12 GMT | last updated: Thursday, 12 July, 2007, 08:04 GMT
