Rowan Orders 4 More Rigs

Thursday, November 01, 2007
Rowan Companies, Inc. entered into contracts with Keppel AmFELS, Inc. for the construction of four Super 116E class jack-ups. The rigs will be built at AmFELS' Brownsville, Texas shipyard, with delivery scheduled at approximately four-month intervals beginning in the second quarter of 2010. Rowan's total cost of each rig is expected to average approximately $175 million, with more than one-third of that amount attributable to the cost value of the design, kit components and drilling equipment to be provided by the Company's manufacturing businesses.

Rowan will also build two additional 240-C class jack-ups at its own Vicksburg, Mississippi shipyard for delivery in the third quarters of 2010 and 2011, at a total cost of approximately $400 million. The 240-C was designed to be a significant upgrade of the original 116-C class, which has been the "workhorse" of the global drilling industry since its introduction in the late 1970s. The Company's first two 240-C rigs are currently under construction at Vicksburg, with delivery expected in the third quarters of 2008 and 2009.

Danny McNease, Chairman and Chief Executive Officer, commented, "We have continued to experience unprecedented global demand for premium drilling equipment. Each of these new rigs will employ the latest technology to be able to efficiently drill high-pressure, high-temperature and extended-reach wells in just about every prominent jack-up market throughout the world. All six of these new rigs will be equipped to reach 35,000 feet.

"The construction contracts with Keppel AmFELS afford us the opportunity to accelerate the expansion of our offshore drilling business by partnering with a first class organization and shipyard. We will provide our innovative rig design and drilling equipment to this project in further testament to the synergies between our drilling and manufacturing divisions, resulting in an average $20 million cost savings per rig and a proportionately higher return on our investment."


Offshore

Are We on the Crest of an Offshore Wind Wave?

This time last year, when we were preparing to host ABN AMRO’s inaugural international seminar on offshore wind the imminent Borssele offshore wind tender in the Netherlands was a hot topic.

Brazil May Open Petrobras Subsalt Area to Other Companies

Brazil may allow companies besides Petrobras to bid for the right to produce extra oil from areas it sold to the state-led oil company in 2010, the head of the

Vallianz Rejects Payment Request from Swiber Managers

Vallianz Holdings, which provides support vessels for the oil industry, said on Wednesday it had refused a request from the judicial managers of shareholder Swiber Holdings to pay around $63.

Cruise Ship Trends

Refit River Cruiser Sets Sail for Crystal

The newly renovated vessel Mozart, which began passenger service in July 2016, marks Crystal Cruises’ first venture into European river cruising.   Before for

Hapag-Lloyd Cruises Orders Two Vessels

TUI Group, the world’s number one tourism group, will invest in two new-builds for its Hamburg-based subsidiary Hapag-Lloyd Cruises. The two, new, 5-star expedition

MV WERFTEN, Foreship Sign Design Agreements

MV WERFTEN signed a letter of intent with the engineering company Foreship in Stralsund today. The agreement includes parts of the basic design as well as design,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.0773 sec (13 req/sec)