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 March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Heerema Signs LOI with Jurong Shipyard for Giant Crane Vessel

Dutch offshore contractor Heerema Offshore Services has signed a letter of intent (LOI) with Sembcorp Marine’s Jurong Shipyard in Singapore for the construction

Keppel FELS Delivers 11th Jackup to Mexico

Keppel FELS Limited (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered a KFELS B Class jackup rig to Mexican national oil company,

North Sea Oil: Harkand wins Maersk Oil North Sea Deal

Harkand won a multi-million contract with Maersk Oil North Sea Ltd for the provision of DSV services in the North Sea region. The 12-month contract will be serviced by Harkand’s two DSVs,

Finance

COSCO China's Piraeus Bid Back on Track

China Ocean Shipping (Group) Co will bid for a majority stake in Greece's port of Piraeus after the country's new socialist government apparently reversed course

CMA CGM profits up 43%

French container line operator CMA CGM has announced that its 2014 net consolidated profits rose by 43% over the previous year to USD584 million thanks to a growth

Ship Ownership is a Closely Held Market

Even though shipping is a global industry, ownership is fairly well concentrated in a relatively small number of major centres, says a research from Clarksons.

 
 
Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Port Authority Salvage Ship Simulators 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: 0.1162 sec (9 req/sec)