Ultra-deepwater Drillship Contract for HHI

Press Release
Monday, September 10, 2012

Rowan Companies exercises option to build a fourth GustoMSC P10,000 design ultra-deepwater drillship with Hyundai Heavy Industries Co., Ltd.

The cost for this rig, including commissioning, project management and spares, but excluding capitalized interest, is estimated to be approximately $620 million, with delivery scheduled for March 2015.

Rowan plans to equip its drillships with 2,000 feet of additional riser to enable operations in water depths up to 12,000 feet upon delivery.  Each drillship will also be equipped with a second BOP for minimizing non-productive time. The company will also incur operational training and personnel ramp-up costs in readying the drillships to commence well operations.  Expected costs for the additional riser, BOP and training and ramp-up costs will be approximately $75 million.

Total cost for the Company's fourth drillship will be approximately six percent higher than the Company's first three drillships primarily due to equipment price increases and projected labor cost increases.  The agreement with HHI also includes an option for a similar fifth drillship exercisable in the fourth quarter of 2012, for delivery in the third quarter of 2015.

The Rowan Renaissance is expected to be delivered in late 2013.  The second and third drillships are expected to be delivered in the second and fourth quarters of 2014, respectively.

Matt Ralls, President and Chief Executive Officer, commented, "We are very pleased to add a fourth ultra-deepwater drillship to our fleet.  The recent three-year contract obtained for our first drillship, the Rowan Renaissance, and strong customer enthusiasm for Rowan's history of operational excellence, high-specification drillship design and experienced deepwater team, reaffirms our confidence in our expansion into the ultra-deepwater market."


 

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Unicom Selects the Ecochlor BWTS for 10 Tankers

Ecochlor, Inc. announced that Unicom Management Services (Cyprus) Ltd. (Unicom), acting for SCF Group, signed a 10-vessel agreement for the Ecochlor Ballast Water Treatment System (BWTS) in Limassol,

Kongsberg Contracted to Support FLNG Conversion

Kongsberg Maritime secures position in the LNG market with electrical and automation contract for Golar Hilli FLNG   Keppel Shipyard in Singapore and Black & Veatch in the U.

Statoil Awarded Licenses Offshore Nicaragua

Statoil informs it was today awarded four licenses offshore the Nicaraguan Pacific, covering an area of about 16,000 km2 in the largely unexplored Sandino Basin.

Offshore

Kongsberg Contracted to Support FLNG Conversion

Kongsberg Maritime secures position in the LNG market with electrical and automation contract for Golar Hilli FLNG   Keppel Shipyard in Singapore and Black & Veatch in the U.

Statoil Awarded Licenses Offshore Nicaragua

Statoil informs it was today awarded four licenses offshore the Nicaraguan Pacific, covering an area of about 16,000 km2 in the largely unexplored Sandino Basin.

Mexico Removes Bid Limit on Shallow Water Oil Tenders

Mexico's oil regulator voted on Friday to relax previously established rules on bidding terms and contracts that form the first step in an historic sector opening

 
 
Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pod Propulsion Ship Electronics Ship Repair 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: 0.1359 sec (7 req/sec)