DSME Wins New Drillship Order

DSME signed a contract with Atwood Oceanics, a U.S.-based ocean drilling company, for the construction of one drillship. This is the option of last year’s contract with a value of approximately $570 million and it will be delivered at the end of 2015. DSME and Atwood Oceanics also agreed in principle to an additional drillship contract.

The newly ordered drillship is a DSME-12000 type drillship which was developed using DSME’s own technology. It is able to drill down to a maximum of 12km in water up 3,600m in depth and will possess dual derricks so pipe assembly work and drilling operations are possible at the same time. This will increase its effectiveness and reduce working hours by 25% when compared to a single derrick system.

Atwood Oceanics has placed orders for drillships consistently since the first contract in January 2011.

This latest contract puts DSME’s secured orders for 2013 at 14 vessels and offshore platforms worth $4.7 billion. By earning 85% of the contracts won through offshore projects, DSME strengthens its competitiveness in the offshore market.

dsme.co.kr