Noble Orders Drillship Pair; $1.2B Total

Wednesday, January 19, 2011

Noble Corporation (NYSE: NE) today announced that a subsidiary has signed a contract with Hyundai Heavy Industries Co. Ltd. ("HHI") for the construction of two ultra-deepwater drillships, increasing the Company's number of floating drilling units to 26, 14 of which are dynamically positioned. The new ultra-deepwater drillships, to be named at a later date, will be constructed on a fixed price basis at HHI's shipyard in Ulsan, Korea, with expected deliveries from the shipyard in the second and fourth quarters of 2013, respectively. Operations are expected to commence 90-120 days after delivery following mobilization and acceptance testing.

The delivered cost of the new drillships is expected to be $605 million each, and includes the turnkey construction contract, Company furnished equipment, project management and spares, but excludes capitalized interest. The construction contract contains favorable payment terms that incentivize on-time delivery. The contract further includes a fixed price option for up to two additional drillships, which must be declared by early May 2011 for delivery in 2014.

"We believe the fundamentals of the global ultra-deepwater market will continue to be strong in the decade ahead," said David W. Williams, Chairman, President and Chief Executive Officer, Noble Corporation. "These units, capable of meeting the industry's most stringent operating requirements, further support our continued commitment to increasing the technological and operational capabilities of our fleet. Furthermore, the previously announced Letter of Intent from Shell for one unit reduces the speculative risk and enhances future shareholder value."

The rigs are based on a Hyundai Gusto P10000 hull design and are designed for operations in waters of up to 12,000 feet, although either may be outfitted for less depending on specific contract requirements. The units will have DP-3 station keeping abilities, the ability to handle two complete BOP systems, a heave compensated construction crane to facilitate deployment of subsea production equipment and accommodations for up to 200 personnel, in addition to a number of other operational enhancements beyond the shipyard's base specifications.

 
 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Transocean: Fleet Update Summary

Transocean Ltd. today issued a monthly fleet update summary which includes new contracts, changes to existing contracts, and changes in estimated planned out-of-service

Navantia Orders Sedni IAS for PEMEX Flotel

Sedni secures an important contract with Navantia to supply its Automation System (IAS) Diamar for the flotel vessel (BAP) which is being built at Ferrol factory for PEMEX owner.

MN 100: Tidewater Inc.

601 Poydras Street, Suite 1500 New Orleans, Louisiana 70130 Telephone: 504 568 1010 E-mail: corth@tdw.com Website: www.tdw.com Chairman and CEO: Jeff Platt Number of employees: 8,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Repair Ship Simulators
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: 0.0771 sec (13 req/sec)