Frigstad Orders Ultra-deepwater Semi-submersibles

Press Release
Tuesday, January 15, 2013

Subsidiaries of Frigstad Deepwater Ltd sign construction contracts for two ultra deepwater semi-submersible drilling units from CIMC Raffles in Yantai, China.

The 7th generation drilling units are of the Frigstad D90™ design, developed by Frigstad Engineering and tailor made for safe and efficient exploration and development drilling in ultra-deep waters. The rigs will be capable of operating in water depths up to 12,000 feet and drilling to a total depth of 50,000 feet. The units will be outfitted with a DP3 dynamic positioning system, full dual activity hydraulic drilling package with 2 x 1,400 ST hoisting capacity and 2 x seven ram BOPs.

The first two drilling units are scheduled for delivery at the end of Q4-2015 and Q2-2016 respectively and the total project cost is approximately USD 1,3 billion exclusive of financing cost. The construction, marketing and operation of the rigs will be managed by Frigstad Offshore.  

Simen Skaare Eriksen, CEO of Frigstad Offshore Pte Ltd and Director of the Frigstad Deepwater Ltd subsidiaries placing the orders, says in a comment: “With these new-build orders, we continue building a solid foundation for further growth and developing the company into a leading operator of ultra deepwater drilling units at the very top end of this highly attractive market segment. These rigs represent yet another significant step forward in terms of equipment specifications, operational efficiency, flexibility and reliability, and we will be well positioned to take advantage of a strengthening ultra deepwater market. After the CIMC Group’s takeover of the Yantai Raffles yard, we have seen considerable improvements to infrastructure and execution skills at the yard, which provides us with confidence in their ability to deliver a successful project.”

The contracts contain options for another four units.

 

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

Contracts

NASSCO Cuts Steel on APT "ECO Tanker"

General Dynamics NASSCO started construction of another ship in its commercial shipbuilding backlog, starting construction of a second “ECO” tanker to be built

Multraship Buys Three More Tugboats from Damen

Multraship and Damen Shipyards Group agreed on three new ASD (Azimuth Stern Drive) Tugs, all for delivery to Multraship in 2015. After delivery in Vietnam, scheduled

QGEP to Acquire FPSO from Teekay

Teekay Offshore Partners L.P. has entered into an agreement with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) to provide a floating production,

Shipbuilding

NASSCO Cuts Steel on APT "ECO Tanker"

General Dynamics NASSCO started construction of another ship in its commercial shipbuilding backlog, starting construction of a second “ECO” tanker to be built

Multraship Buys Three More Tugboats from Damen

Multraship and Damen Shipyards Group agreed on three new ASD (Azimuth Stern Drive) Tugs, all for delivery to Multraship in 2015. After delivery in Vietnam, scheduled

Waterjet-propelled Crewboat Delivered to Petrobras

BS Camburi, a 36-meter Monohull Crewboat built in Brazil by Arpoador Engenharia to the Petrobras type P2 specification has been launched and delivered.   Designed by Incat Crowther,

Offshore

QGEP to Acquire FPSO from Teekay

Teekay Offshore Partners L.P. has entered into an agreement with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) to provide a floating production,

Hoists Facilitate Offshore Crane Repairs

When the diesel engine of a deck crane failed, it caused major handling problems for an offshore platform operating in the Dutch sector of the southern North Sea,

Jackup Rig Delivered to Abu Dhabi’s NDC

Lamprell delivers its 11th Super 116E jackup drilling unit Lamprell has completed the construction of jackup drilling rig, the Shuwehat, and has delivered the

Ship Sales

Scorpio Bulkers Modifies and Sells Shipbuilding Contracts

Scorpio Bulkers Inc. announces agreements to modify and sell existing shipbuilding contracts for six capesize vessels    Scorpio Bulkers Inc. has reached agreements

Philippines to Buy Naval Assets, China Sea Dispute Simmers

The Philippines aims to buy two frigates, two helicopters and three gunboats for deployment in the South China Sea where a territorial dispute with China has lent

Diana Acquires Newbuild Dry Bulk Vessel

Diana Shipping Inc., a global shipping company specializing in the ownership of dry bulk vessels signed, through a separate wholly-owned subsidiary, a Memorandum

Finance

BP Faces Heavy Hit from Former Prized Asset Rosneft

BP faces a first and heavy loss from its stake in Russia's Rosneft due to plummeting oil prices and a crumbling rouble, potentially forcing it to write down the value of its once-prized asset.

Libyan State Oil Firm NOC Will Remain Independent

Libya's Tripoli-based state firm National Oil Corp (NOC) will remain independent, it said on Thursday, in an apparent attempt to reassure foreign oil buyers it will stay out of the country's conflict.

Oil Prices Retreat from Short-covering Rebound

Global crude prices fell more than $1 a barrel on Thursday, retreating from a short-covering charged rally as traders bet the market had not shaken off a six-month long rout on oversupply concerns.

Offshore Energy

QGEP to Acquire FPSO from Teekay

Teekay Offshore Partners L.P. has entered into an agreement with a consortium led by Queiroz Galvão Exploração e Produção SA (QGEP) to provide a floating production,

Jackup Rig Delivered to Abu Dhabi’s NDC

Lamprell delivers its 11th Super 116E jackup drilling unit Lamprell has completed the construction of jackup drilling rig, the Shuwehat, and has delivered the

Shell Resuming Nigeria EA Oil Production

Royal Dutch Shell said on Thursday it had resumed production of Nigerian EA crude oil and lifted its force majeure on the grade after completing repairs to a mooring platform.

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Port Authority Ship Repair 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: 0.1982 sec (5 req/sec)