Offshore oil rig

Offshore contract drilling services provider Transocean has awarded contracts to Jurong Shipyard in Singapore for construction of two ultra-deepwater drillships, with a combined capital cost of approximately $1.24bn.

Excluding capitalised interest, the capital cost for the newbuild dynamically positioned drillships includes the shipyard contracts, project management, owner-furnished equipment, inventory and capital spares.

Transocean has also signed an option agreement to order up to three additional drillships of the same design and specifications on similar terms, with the initial option to be exercised within one year, the second within 18 months and the third within 24 months.

Transocean president and CEO Steven Newman said: "These newbuild drillship orders highlight continued execution of our long-term asset strategy.

"We are committed to reinvesting in our fleet through the addition of differentiated, high-specification and high-return assets that will appeal to a wide spectrum of our customers."

Designed for enhanced drilling operations with drilling facilities, a large moon pool to accommodate a riser angle and a hull designed for better motion characteristics, the drillships will also feature a large deck space with an enclosed riser bay and a flexible mud system for completion operations.

"The drillships can operate in up to 12,000ft water depths and 40,000ft drilling depths, accommodating a crew of 220."

With a 1,250t load path, the drillships are equipped with dynamic positioning class 3 (DP-3) capabilities and also feature hybrid power systems for lower emissions and improved fuel economy.

The drillships can operate in up to 12,000ft water depths and 40,000ft drilling depths, accommodating a crew of 220.

Initially, they will be outfitted with one 15,000psi blowout preventer (BOP) with the ability to add a second.

To be built based on Jurong Shipyard’s Jurong Espadon III design, the drillships contracted to Sembcorp Marine are expected to be delivered from the shipyard in the second quarter of 2017 and the first quarter of 2018, respectively.


Image: The drillships are equipped with dynamic positioning class 3 (DP-3) capabilities. Photo: courtesy of suwatpo / FreeDigitalPhotos.net.

Energy