Diamond Offshore Drilling Ltd News

Hyundai Heavy Industries, the world’s biggest shipbuilder and a leading marine engine manufacturer, today announced it won orders to supply HiMSEN marine engines for drillships for major offshore drilling companies including Noble Drilling Holding LLC., Diamond Offshore Drilling Ltd. The 98 HiMSEN engines, worth USD 150 million, will be installed in 15 drillships including 9 Hyundai Heavy ordered this year from the first half of 2012. “This is a great moment for us as we used to have to import marine engines for our drillships.

Smedvig has signed a contract for the sale of the semi-submersible drilling rig West Vanguard to Diamond Offshore Drilling Ltd. The agreed sales price for the drilling rig, which was built in 1982, is $ 68.5 million. The hand-over of the rig is planned for December 2002. West Vanguard is today assigned to Norsk Hydro on the Norwegian continental shelf. Smedvig will bareboat charter the rig until the end of the present contract. Smedvig and Diamond Offshore will cooperate to ensure a smooth transition of management of the rig including arrangements for securing employment for the employees on West Vanguard. "The sale releases capital for new investment opportunities", says CEO Kjell E Jacobsen in Smedvig.