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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Growing Presence of Damen FCS 2610's in O&G Markets

The Damen Shipyards Group’s Fast Crew Supplier (FCS) 2610 is proving to be every bit as effective in the oil and gas sector as it is in the offshore wind industry.

Highest-Pull Wireline Conveyance System from Schlumberger

Schlumberger announced today the launch of the MaxPull high-pull wireline conveyance system that can pull from 18,000 lbf to 30,000 lbf in wells 40,000 ft [12,192 m] deep or more.

Cyberhawk Sinks Claws into US O&G Market

Cyberhawk Innovations, the world leader in aerial inspection and survey using Unmanned Aerial Vehicles (UAV), is set to boost its international credentials with

Finance

Crowley Acquires Ace Fuels Assets in Anchorage

Anchorage-based Crowley Fuels yesterday completed an asset acquisition of the aviation fuels business of Ace Fuels, LLC, a fixed base operator (FBO) headquartered

BAE Systems Bags USN Award for Submarine Propulsors

BAE Systems has received a $72 million contract from the U.S. Navy to produce and deliver propulsor systems for Block IV Virginia-class (SSN 774) submarines. The

India Seeks Stake in Iran LNG Terminal

Indian Petroleum Minister Minister Dharmendra Pradhan says India has expressed interest in setting up an LNG terminal at Chahabar port in Iran to ship back home natural gas from Persian Gulf nation,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Sonar Winch
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: 0.0760 sec (13 req/sec)