Ultra-Deepwater Drillship Contract

Thursday, October 30, 2008

The rig is listed in the Transocean Fleet Update Report dated August 5, 2008, along with nine other announced ultra-deepwater newbuild units, as the "HHI Drillship TBN (to be named)."

The five-year drilling contract is expected to commence in the fourth quarter of 2010, following shipyard construction. The contract commencement date is contingent on vendor performance and other factors. Contracted revenues related to the five-year contract term are approximately $1.17b to $1.19b, depending on countries of operation during the contract term. Estimated contract revenues represent the maximum amount of revenues that may be earned, excluding revenues for cost escalations, customer reimbursed equipment and miscellaneous adjustments.

Construction of the unnamed dynamically positioned, double-hull drillship is scheduled to take place at the Hyundai Heavy Industries shipyard in , with the first steel cutting scheduled in January 2009. The estimated total capital expenditure for the drillship, is approximately $740m, excluding customer reimbursed equipment and capitalized interest. The rig design is an enhanced version of Transocean's C.R. Luigs and Jack Ryan-class drill ship designs. It will feature Transocean's patented dual-activity drilling technology, allowing for parallel drilling operations designed to save time and money in deepwater well construction, compared with conventional rigs. It will also feature a third load path through a 165-metric-ton Active Heave Compensating Crane for subsea construction activity. The rig will also have expanded completion capabilities and a variable load of 20,000 metric tons.

Maritime Today


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

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

Offshore

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

US Oil Drillers Add Rigs for 5th Week in a Row

U.S. drillers this week added oil rigs for a fifth consecutive week, Baker Hughes Inc said on Friday, but the oilfield services provider and some analysts cast

Det Norske to Restore Production at Alvheim after Leak

Norwegian oil firm Det norske said it expected to reach full production at its Alvheim FPSO (floating storage, offloading and producing unit) overnight after a leak,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pipelines Port Authority Salvage Ship Repair Ship Simulators 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: 0.0678 sec (15 req/sec)