Seadrill gets contract for new ultra-deepwater drillship

8/8/2014

Seadrill gets contract for new ultra-deepwater drillship

HAMILTON, Bermuda -- Seadrill, in cooperation with indigenous partner Field Offshore Design Engineering Nigeria, has secured a contract with Esso Exploration and Production Nigeria, an Exxon Mobil subsidiary, for employment of the newbuild ultra-deepwater drillship West Saturn, in support of the ERHA North Phase 2 project in Nigeria.

The contract is for a firm period of two years plus a one-year option and has a total revenue potential for Seadrill and Field Offshore Design Engineering Nigeria for the primary contract term of approximately $497 million, inclusive of mobilization.

The West Saturn is a 6th generation drillship, currently under construction at Samsung Heavy Industries in Geoje, South Korea, with expected delivery in September 2014 and marks the sixth Seadrill unit to commence operation in the last 12 months.

The unit will initially be outfitted to work in up to 10,000 ft of water and is capable of handling two BOP's, operating in up to 12,000 ft of water and drilling depths up to 40,000 ft.

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