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Transocean to build two newbuild ultra-deepwater drillships

ZUG, Switzerland -- Transocean has announced that a subsidiary has awarded contracts to Sembcorp Marine' s subsidiary, Jurong Shipyard, in Singapore, for the construction of two newbuild dynamically positioned ultra-deepwater drillships.

The two drillships are expected to be delivered from the shipyard in the second quarter of 2017 and the first quarter of 2018, respectively. The combined capital cost for the two drillships is estimated at approximately $1.24 billion including the shipyard contracts; project management; owner-furnished equipment; inventory and capital spares; but excluding capitalized interest.

Additionally, Transocean has entered into an option agreement to order up to three additional drillships of the same design and specifications on similar terms.  The first option must be exercised within one year, the second within 18 months, and the final within 24 months.

The drillships will be built based on Jurong Shipyard' s proprietary Jurong Espadon III design and will possess advanced capabilities for highly efficient ultra-deepwater development drilling operations worldwide.  Specially designed for enhanced drilling operations with state-of-the-art drilling facilities, a large moon pool to accommodate a larger riser angle, and a hull designed for superior motion characteristics, the drillships will also feature a large deck space with an enclosed riser bay, a flexible mud system for completion operations, and Transocean' s patented hybrid power system for lower emissions and improved fuel economy.

The dual-activity rigs are equipped with Dynamic Positioning Class 3 (DP-3) capabilities, and the drillships' 1,250-ton load path will enable operations in up to 12,000-ft water depths and drilling depths of up to 40,000 ft.  The drillships will have accommodations for a crew of 220 personnel and will be initially outfitted with one 15,000-psi BOP with the ability to add a second BOP.

"These newbuild drillship orders highlight continued execution of our long-term asset strategy," said Steven L. Newman, president and CEO of Transocean Ltd. "We are committed to reinvesting in our fleet through the addition of differentiated, high-specification and high-return assets that will appeal to a wide spectrum of our customers."

02/27/2014

 

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