Jurong Gets $404M Semi-Sub Option

Monday, August 15, 2005
Jurong Shipyard said that SeaDrill Limited (SeaDrill) has exercised the option to build the second unit of the 6th generation ultra deep water semi-submersible drilling rig at a contract value of $404 million. The contract price is based on a turnkey contract with all owner-furnished equipment (OFE) including the 7,500 feet of riser and BOP. In connection, SeaDrill awarded Jurong Shipyard an additional option to build a third unit of the semi-submersible based on the same design and at comparable terms. This option takes effect in August 2006. The second unit of the Friede & Goldman ExD-designed semi-submersible rig, originally on a three-month option and effective October 2005, takes immediate effect with delivery scheduled in November 2008. Don Lee, Senior General Manager of Offshore Division said, “We are pleased that SeaDrill has taken the decision to exercise the option and at the same time executed a second option to build a similar ultra deepwater semi-submersible rig with Jurong Shipyard. This in itself is demonstrative of the confidence that rig owners have on the future demand for deepwater rigs driven mainly by high oil prices and increased development drilling activities.” John Fredriksen, Chairman of SeaDrill Limited said “With a total fleet of 12 units plus two further options and strategic ownership positions in Ocean Rig and Apexindo, we are on track to make SeaDrill into one of the leading offshore contractors within the next five years. The existing units and the newbuilding program give SeaDrill a unique position among the drilling contractors, as one of the only contractors who are positioned for significant organic growth in the coming years.”
Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

‘Blue Queen’ on First Mission

The platform supply vessel 'Blue Queen', an ULSTEIN PX121 design, was named at Ulstein Verft on Friday 27 February. The ship will be working in the spot market.

Fiji Maritime Academy Bullish on Prospects

The Fiji Maritime Academy (FMA) is on the right track to become one of the finest maritime training institutions in the region. It has also achieved an important

Gulf of Mexico Oil Production on the Rise

Because of the long timelines associated with Gulf of Mexico (GOM) projects, the recent downturn in oil prices is expected to have minimal direct impact on GOM crude oil production through 2016.

Finance

Shipping Contributes $164bln to EU

The European Community Shipowners' Associations has released the results of a recent update of an Oxford Economics study on the economic value of the EU shipping

Genting Acquires Crystal Cruises

Crystal Cruises has been sold for $550 million to the owner of Asia's largest cruise line and a major shareholder of Norwegian Cruise Line.    Crystal's parent company,

Africa Should Tap its Maritime Resources: IMO

The huge potential of the oceans and the maritime industry to assist in the development of the African continent has already been noted, International Maritime

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1204 sec (8 req/sec)