Fred. Olsen Energy Orders New Ultra-Deepwater Drillship Worth USD 615 Million at HHI, South Korea

A wholly owned subsidiary of Fred. Olsen Energy ASA  has entered into a turnkey contract with Hyundai Heavy Industries Co., Ltd. (HHI) for the building of a new ultra-deepwater drillship with scheduled delivery in 3rd quarter 2013.

Total project cost is estimated to USD 615 million (including spare parts, owner furnished equipment and project team). The contract includes an option from Hyundai for the purchase of a similar second drillship exercisable within October 2011.

This DP drillship will be designed for water depth capacity up to 12,000 feet, have a seven ram BOP (Blow Out Preventer), dual activity capability, five mud pumps, a 165 ton capacity heave compensated crane, a maximum hook-load capacity of 1,250 tons and an accommodation module housing up to 210 people.

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Source: Businesswire , April 15, 2011; Image: HHI